If a Good Has Become More Scarce,then We Know for Sure

question 48

Multiple Choice

If a good has become more scarce,then we know for sure that

• A)the demand for it increased.
• B)the supply of it decreased.
• C)either the demand for it increased or the supply of it decreased.
• D)both the supply of it and the demand for it decreased.

Learn about social learning theory and the role of observation in the acquisition of aggressive behaviors.

Understand methodological approaches and the challenges of studying aggression, including external validity and the operationalization of aggression.

Understand the concept and application of the GDP deflator in economics.

Differentiate between nominal and real GDP.

---

Definitions:

Periodic Review System

A system of inventory control where the inventory levels are reviewed at fixed intervals to determine the reorder quantity.

Order Up To Level

A replenishment strategy where inventory is restocked to a predetermined level each time an order is placed to maintain stock availability.

Lot Size

The quantity of inventory items that a company orders or produces in a single production run or order, affecting inventory costs and management strategies.

Product Differentiation

A marketing strategy that involves distinguishing a product or service from others in the market to make it more attractive to a particular target market.