An Increase in the Price of a Good Will

question 149

Multiple Choice

An increase in the price of a good will

• A)increase demand.
• B)decrease demand.
• C)increase quantity demanded.
• D)decrease quantity demanded.

---

Definitions:

Inventory

The stock of goods or materials that a business holds for the purpose of resale or production, critical for meeting customer demand and operational needs.

Managing Quality

Involves overseeing operations and processes to ensure that products or services are meeting predefined standards and customer expectations.

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs to inputs in a production process.

Operations Manager

A role responsible for overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods and services.