Which of the Following Demonstrates the Law of Supply

question 218

Multiple Choice

Which of the following demonstrates the law of supply?

• A)When leather became more expensive, belt producers decreased their supply of belts.
• B)When car production technology improved, car producers increased their supply of cars.
• C)When sweater producers expected sweater prices to rise in the near future, they decreased their current supply of sweaters.
• D)When ketchup prices rose, ketchup sellers increased their quantity supplied of ketchup.

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Definitions:

Organizing

The process of defining and assigning tasks, allocating resources, and providing resource support.

Effective Communication

Communication in which the intended meaning is fully understood by the receiver.

Efficient Communication

Communication that occurs at minimum cost.

Credibility

The quality of being trusted and believed in, often a result of consistency, integrity, and reliability.