When the Price of a Good Rises,the Price Is Transmitting

question 37

Multiple Choice

When the price of a good rises,the price is transmitting information indicating that the good has become relatively

• A) scarcer.
• B) less scarce.
• C) more plentiful in supply.
• D) b and c

---

Definitions:

Systematic Change

Planned and structured modifications made in a system to improve processes, technologies, or structures.

Work Redesign

This refers to the process of altering job roles, workflows, or organizational structures to improve efficiency, employee satisfaction, and adaptability.

Work Process

The sequence of activities or tasks that are conducted to achieve a specific outcome or product in an organizational setting.

Workforce Reduction

Strategies employed by organizations to decrease the number of employees, typically through layoffs, voluntary retirement, or attrition, to reduce costs or adjust to structural changes.