As the Price of a Commodity Increases, What Happens to Supply

question 49

Multiple Choice

As the price of a commodity increases, what happens to supply? ​

• A) If the price increases, then the supply will decreases.
• B) If the price increases, then the supply will remain constant.
• C) If the price increases, then the supply will increases.

Understand the composition and significance of the promotional mix in marketing.

Identify strategies for differentiating products from competitors.

Distinguish between publicity and other forms of promotional activities.

Compare and contrast different pricing strategies with a focus on customer and internal orientations.

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Definitions:

Control Account

An account in the general ledger that summarizes and checks the accuracy of individual records in subsidiary ledgers.

General Ledger

A comprehensive set of accounts that records all transactions of a business, providing the foundation for financial statements.

General Ledger

The main accounting record of a company which uses double-entry bookkeeping, consisting of all balance sheet and income statement accounts.

Sales Journal

A specific type of journal used to record the sales of goods or services on credit.