Using the supply and demand curve above, which statement is TRUE? A) By decreasing the price from $3.50 (P1) to $2.60 (P2), supp
ly decreases. B) By decreasing the price from $3.50 (P1) to $2.60 (P2), demand decreases. C) By decreasing the price from $3.50 (P1) to $2.60 (P2), the quantity of supply decreases. D) By decreasing the price from $3.50 (P1) to $2.60 (P2), the quantity of demand decreases.
The correct answer is C: by decreasing the price from $3.50 (P1) to $2.60 (P2), the quantity of supply decreases.
Explanation:
The supply and demand curve demonstrates <u>that there is an inverse relationship between price and demand</u>. It means that if the price increases, demand will decrease. Also, it shows that <u>supply is directly related to price.</u> Therefore, <u>suppliers may provide more products or services if their price increases</u>. Accordingly, by decreasing the price of the merchandise, the quantity of supply decreases. It is important to keep into account that these <u>both economic forces</u> fix a balance of the prices of things in the market. Option A is quite similar but does not include the technical term “quantity”, which validates option C as the correct one.
Answer: Formal workgroups are not the same as teams because often they are comprised of individuals who sporadically interact but who have no <u>collective commitment</u> that requires joint efforts.
Explanation: Formal workgroups are not the same as teams because often they are comprised of individuals who sporadically interact but who have no collective commitment that requires joint efforts.
Answer: The Black Death hit the culture of towns and cities disproportionately hard, although rural areas (where most of the population lived at the time) were also significantly affected. Larger cities were the worst off, as population densities and close living quarters made disease transmission easier.
