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Assuming That the Demand and Supply of a Good Have

question 173

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Assuming that the demand and supply of a good have moved in the same direction, and by the same amount, the new equilibrium would represent: no change in price and an increase in quantity exchanged.


Definitions:

Resistance to Change

The reluctance or refusal to adapt to changes in the workplace or environment, which can stem from various personal or organizational reasons.

Refreezing

The final stage in the Lewin's change model where new behaviors or processes are solidified into the organization's culture after a change has been implemented.

Change Program

A planned initiative within an organization aimed at improving current processes or implementing major changes to systems, culture, or procedures to achieve specific goals.

Resistance to Change

The opposition or pushback by individuals or groups within an organization against modifications to established procedures, systems, or structures.

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