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A market is in equilibrium. If the government imposes a minimum price above the equilibrium price, there will be:
A. a contraction in demand, an increase in supply and a market surplus
B. an extension in demand, a contraction in supply and a market shortage
C. a contraction in demand, an extension in supply and market surplus
D. a decrease in demand, an extension in supply and a market surplus
Answer: C
A company currently produces custom goods for a limited market. To increase market share, the company will implement a strategy to reduce the number of products it produces and reduce delivery lead time. The company can increase its chances of achieving the strategy by:
A. using electronic communications to receive customer complaints.
B. incorporating results from market surveys.
C. involving customers in the product design process.
D. using benchmark data for products in the same product groups.
Answer: C
Which of the following statements about Disaster Recovery is NOT true?
A. There are still traditional backup strategies in place.
B. Some data loss must be accepted.
C. Applications to work with the recovered data is in place.
D. After a disaster access to the data, on the remote site, can be immediate.
Answer: B
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