Which of the Following Statements Is Not True of a Market

question 33

Multiple Choice

Which of the following statements is not true of a market?

• A) An increase in demand, with no change in supply, will increase the equilibrium price and quantity.
• B) An increase in supply, with no change in demand, will decrease the equilibrium price and the equilibrium quantity.
• C) A decrease in supply, with no change in demand, will increase the equilibrium price and decrease the equilibrium quantity.
• D) A decrease in demand, with no change in supply, will decrease the equilibrium price and quantity.

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Definitions:

Scenario Planning

Planning that identifies alternative future scenarios and makes plans to deal with each.

Royal Dutch/Shell

A global group of energy and petrochemical companies, known for its innovations in oil and gas exploration.

Future Shocks

A term by Alvin Toffler referring to the distressing disorientation felt when individuals or societies experience too much change in too short a time.

Benchmarking

The use of external and internal comparisons to plan for future improvements.