The Law of Supply Tells Us That, If Other Factors

question 150

Multiple Choice

The law of supply tells us that, if other factors do not change, as the

• A) price of gasoline falls, the quantity of gasoline supplied decreases.
• B) price of gasoline rises, the quantity of gasoline supplied decreases.
• C) supply of gasoline increases, the price of gasoline rises.
• D) cost of producing gasoline decreases, the supply of gasoline increases.
• E) cost of producing gasoline increases, the price of gasoline rises.

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Definitions:

Better Fit

A situation or solution that more appropriately or suitably matches the requirements or needs compared to other options.

Lewin's Planned Change

A model developed by Kurt Lewin that describes organizational change through three steps: unfreezing, changing, and refreezing.

Change Leaders

Individuals or entities that drive and manage the process of change within organizations, guiding them through transitions and new initiatives.

Organization Development

A planned, systematic process aimed at improving the effectiveness, health, and self-renewing capability of organizations through change in policies, power, leadership, control functions, and culture.