What Occurs When the Nature, Types and Speed of Changes

question 77

Multiple Choice

What occurs when the nature, types and speed of changes overpower an individual's or organization's ability and capacity to adapt?

• A) Corporate downfall
• B) Corrective actions
• C) Future shock
• D) Corporate agility
• E) Measuring performance

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Definitions:

Production Costs

Expenses incurred during the process of creating a good or service, including labor, raw materials, and overhead costs.

Decreasing-Cost Industry

An industry in which expansion through the entry of firms lowers the prices that firms in the industry must pay for resources and therefore decreases their production costs.

Long-Run Supply Curve

As it applies to macroeconomics, a supply curve for which price, but not real output, changes when the demand curves shifts; a vertical supply curve that implies fully flexible prices.

Downsloping

Typically describes a graph line that shows a decrease in a variable as another variable increases, often used in economics to illustrate concepts like demand curves.