The Prices of Certain Goods, Such as Ice and Gasoline

question 64

Multiple Choice

The prices of certain goods, such as ice and gasoline, often increase after a natural disaster such as a hurricane. The economic explanation for this observation is that

• A) people panic in disaster situations.
• B) disasters bring out the worst in people.
• C) the disaster temporarily reduces the supply of the goods and increases the demand for the goods.
• D) the disaster temporarily reduces the supply of the goods and reduces the demand for the goods.

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Definitions:

Task Significance

The degree to which a job has a substantial impact on the lives of other people, whether within or outside the organization.

Skill Variety

The extent to which a job requires a variety of different activities in carrying out the work, involving the use of multiple skills and talents of the employee.

Skill Variety

The degree to which a job requires a range of different activities and skills to complete its tasks.

Varied Expertise

The possession of knowledge and skills across a broad range of areas or disciplines, contributing to versatility and adaptability in professional contexts.