Use the Following to Answer Questions

question 37

Multiple Choice

Use the following to answer questions :
Exhibit: Supply Shock
-(Exhibit: Supply Shock) In this graph, assume that the economy starts at point A and there is a favorable supply shock that does not last forever. In this situation, point ______ represents short-run equilibrium and point ______ represents long-run equilibrium.

• A) B; C
• B) B; A
• C) E; D
• D) E; A

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Definitions:

Environmental Scanning

The process businesses use to understand the external factors influencing their operation, including technological, regulatory, and competitive elements.

Internal Factors

Elements or conditions within an organization or individual's control that can influence decisions, behaviors, and outcomes, such as policies, resources, and personal abilities.

Systematic Monitoring

A structured and continuous process of tracking and evaluating the performance, quality, or progress of a project, system, or organization.

Cultural Audits

Audits of the culture and quality of work life in an organization