-The Graph Illustrates the Supply of Sweaters

question 12

Multiple Choice

-The graph illustrates the supply of sweaters.A fall in the price of sweaters brings

• A) a movement along the supply curve.
• B) a decrease in the quantity supplied of sweaters.
• C) a shift of the supply curve.
• D) Both answers A and B are correct.
• E) Both answers B and C are correct.

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Definitions:

Unmet Needs

The gaps in the market where demand for a product, service, or solution exists but is not currently being met by the supply.

Entrepreneurs

Individuals who undertake the creation, organization, and management of a business venture, along with its risks, in order to make a profit.

Marketplace

A platform or environment where commercial transactions between buyers and sellers take place.

Opportunity Recognition

The ability to identify a viable idea or market gap that can be exploited for business or entrepreneurial purposes.