Technological Advances Have Increased the Supply of Digital Cameras

question 16

Multiple Choice

Technological advances have increased the supply of digital cameras. As a result the:

• A) demand for digital cameras will increase, putting downward pressure on the price of digital cameras.
• B) quantity demanded for digital cameras will increase.
• C) quantity supplied of digitals cameras will increase, putting downward pressure on the price of digital cameras.
• D) demand and supply of digital cameras will both increase.

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Definitions:

Customer Relationship Management

A system for managing a company’s interactions with current and future customers, often utilizing technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.

Supply Chain Management

The management of the flow of goods and services, including all processes that transform raw materials into final products.

Functional Barriers

Obstacles arising from the structure and functioning of an organization that hinder communication and cooperation among different departments or units.

Information Competency

The ability to locate, evaluate, and use information effectively, often regarded as an essential skill in the digital age.