In Which of the Following Situations Will Both Market Clearing

question 369

Multiple Choice

In which of the following situations will both market clearing price and the equilibrium quantity decrease?

• A) an increase in demand and no change in supply
• B) an increase in supply with no change in demand
• C) a decrease in supply with no change in demand
• D) a decrease in demand with no change in supply

Understand the concept of electronic funds transfer (EFT) and its importance.

Recognize the need for journal entries post-reconciliation to update the book balance.

Differentiate between debit and credit memorandums in the context of bank transactions.

Understand the setup and replenishment process of a petty cash fund.

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Definitions:

Functional Structure

An organizational design that groups employees based on their functions or areas of expertise within the company.

Organizational Design

The process of structuring an organization's roles, responsibilities, and systems to effectively achieve its goals and adapt to environmental changes.

Technology

The application of scientific knowledge for practical purposes, especially in industry and the development of devices, systems, or methods.

Organizational Environment

Encompasses all external and internal factors that affect an organization's functioning, including economic, technological, social, and regulatory influences.