-If There Is a Shortage

question 440

Multiple Choice

-If there is a shortage

• A) fewer producers want to sell the product because it is too scarce.
• B) consumers will drive up the price further.
• C) firms will drive up the price to enhance profits.
• D) the price will decline to the equilibrium level.

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Definitions:

Managers

Individuals responsible for planning, leading, organizing, and controlling resources to achieve organizational goals effectively and efficiently.

Leadership Development

Educational programs or training designed to enhance the leadership skills and abilities of individuals within an organization.

Formal Mentoring Programs

Structured mentoring arrangements provided by organizations to facilitate the development of their members.

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Tasks or projects assigned to employees that are outside their regular duties, often designed to challenge them and promote growth or to fulfill specific organizational needs.