In a free market such as that depicted above, a shortage is eliminated by A. a price decrease, decreasing the quantity supplied and increasing the quantity demanded. B. a price increase, increasing the supply and decreasing the demand. C. a price increase, increasing the quantity supplied and decreasing the quantity demanded. D. a price decrease, decreasing the supply and increasing the demand.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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