Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw a diagram to show the effect on the price and quantity of minivans.a.People decide to have more children.b.A strike by steelworkers raises steel prices.c.Engineers develop new automated machinery for the production of minivans.d.The price of sports utility vehicles rises.e.A stock market crash lowers peoples wealth.
BA302 WK7 notes Ch.8 Communication Communication is used to coordinate actions and achieve goals. Managers spend 50% - 90% of their time communicating. Miscommunication accounts for 70% - 80% of accidents over the last twenty years. Communication skills can make a positive attribution to team work, presentations, negotiation, business writing, influencing, cross-cultural affairs, sales etc. The Process: Sender – creates message Encode – sender translates idea into words Medium – line of communication used for message ie. Phone, email, in- person, text Receiver – the person who receives the message Decode – receiver assigns meaning to the words (message) Noise – anything that distorts or interferes with the transference of the m