Forecast & Demand Planning Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Why is economic equilibrium found at the point where the aggregate demand curve, the long-term supply curve, and the short-term supply curve cross?

Question 2 2. Which of the following is the result of a decrease in prices?

Question 3 3. When is it necessary to consider alternatives for managing demand?

Question 4 4. What is aggregate supply?

Question 5 5. What is quantity demanded?

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Question 6 6. Which of the following is NOT a cause to change quantity demanded?

Question 7 7. Which of the following is NOT an example of a change in quantity demanded?

Question 8 8. Which of the following is the result of an increase in prices?

Question 9 9. Aggregate demand refers to which of the following?

Question 10 10. Why should a company avoid having a product available too early?

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Question 11 11. On the AS/AD model, the vertical line at economic equilibrium represents which of the following?

Question 12 12. After their restaurant was featured in a popular film, Mario's Pizza Palace has experienced an increase in sales. As a result, the owner has decided to outsource some of the production process to keep up with the demand. Which of the following statements BEST explains outsource?

Question 13 13. What happens to quantity demanded if the price of an item increases?

Question 14 14. In Keynes' aggregate supply-aggregate demand model, what is long-term supply?

Question 15 15. Mario's Pizza Palace sells an average of 200 pizzas per day and has successfully been able to keep up with the demand; which of the following statements BEST explains demand?

Forecast & Demand Planning Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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