When an Increase in the Price of Wheat,an Important Ingredient

question 264

Multiple Choice

When an increase in the price of wheat,an important ingredient in the production of bread,happens at the same time as an increase in the number of people consuming bread:

• A) both the equilibrium price and quantity will increase.
• B) the equilibrium quantity will decrease,but the equilibrium price may decrease,increase,or stay the same.
• C) both the equilibrium price and quantity will decrease.
• D) the equilibrium price will increase,but the equilibrium quantity may decrease,increase,or stay the same.

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Definitions:

HR Demand

Refers to the number and type of employees an organization needs to meet its current and future goals.

Forecasting

Estimation of future occurrences or trends using statistical methods and historical data.

HR Demand Forecasting

The process of estimating the future human resource requirements of an organization to achieve its goals.

Replacement Demand

The need to fill job positions that become vacant due to retirement, resignation, or dismissal, rather than due to the creation of new jobs.