A Nurse Is Using the Principles of Supply and Demand

question 10

Multiple Choice

A nurse is using the principles of supply and demand in daily practice.Which of the following best describes this phenomenon?

• A) The demand for nurses in public health is low, but the supply is high.
• B) Few goods or services are available, the price tends to rise.
• C) Supplies are low, nurses must find alternate resources.
• D) Lesser-developed countries receive supplies from other countries.

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Definitions:

Strategic Thinking

The process of analyzing critical factors and variables that will influence the long-term success of a business, then mapping out actions to achieve desired goals.

Industry Attractiveness

A measure of the potential profitability and prospects for growth within a particular industry or market sector.

Bargaining Power of Buyers

The influence that customers have over a producing industry, often affecting pricing, quality, and terms of sale.

Degree of Rivalry

The extent and intensity of competition among businesses within the same industry.