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Figure: Shifts in Demand and Supply
-(Figure: Shifts in Demand and Supply) Look at the figure Shifts in Demand and Supply. The figure shows how supply and demand might shift in response to specific events. Suppose a fall frost destroys one-third of the nation's orange crop. Which panel BEST describes how this will affect the market for oranges?
Heuristics
Mental shortcuts or rules of thumb that simplify decision-making processes, but do not guarantee optimal solutions.
Goal Orientation
The direction and persistence of behavior guided by individual goals and the strategies to achieve them.
Creativity Skill Sets
A collection of abilities and techniques that enable an individual to generate new ideas, solutions, or approaches.
Ethical Reasoning
The process of evaluating and choosing among alternatives in a manner consistent with ethical principles.
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