Final answer:
As managers become more adept at controlling the elements of supply and demand, the market tends to become less volatile, with more stable and predictable price and quantity movements.
Step-by-step explanation:
In the context of supply and demand, volatility refers to the degree of fluctuation in prices and quantities in the market. The statement suggests that as managers become more adept at controlling the elements of supply and demand, the market becomes less volatile. This means that price and quantity movements become more stable and predictable over time.
For example, managers may use strategies such as inventory management, pricing strategies, and marketing tactics to influence consumer demand and adjust supply levels to match this demand. By effectively managing these elements, managers can reduce the likelihood of market imbalances and excessive price fluctuations.