Which of the following is not an external determinant of organizational architecture?
A. Administrative control systems
B. Government regulations
C. Technology
D. Markets
Answer: A
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A severe drought has devastated cocoa plants, causing an increase in the price of chocolate. In the market for chocolate chip cookies
A) a surplus will arise. B) supply has decreased and price has increased. C) quantity has decreased and price has decreased. D) quantity demanded has increased.
An implication of scarcity is that:
A. making trade-offs becomes unnecessary as wealth increases. B. people will never be happy. C. people must make trade-offs. D. some people will always be poor.
In wealthy countries such as the United States, the price elasticity of the demand for food is ________ it is in poorer countries.
A. greater than B. less than C. the same as D. None of these; it is not possible to make international comparisons of price elasticity.