An Increase in the Price of Fabric (An Input in the Production

question 55

Multiple Choice

An increase in the price of fabric (an input in the production of pants) will tend to

• A)decrease the demand for pants.
• B)cause a movement along the supply curve for pants.
• C)decrease the supply of pants.
• D)increase the supply of pants.

---

Definitions:

Upstream Suppliers

Companies or entities that provide raw materials, components, or services to another company for the production of goods.

Business Strategy

A plan of action designed to achieve a specific set of objectives that ensures the growth and success of an organization.

Extranets

Private networks that use Internet technology and the public telecommunication system to securely share part of a business's information or operations with suppliers, vendors, partners, customers, or other businesses.

Intranets

Private networks accessible only to an organization's members, employees, or others with authorization, often used to share information, operational systems, or services within the organization.