If the Price of a Natural Resource Is Expected to Rise

question 52

Multiple Choice

If the price of a natural resource is expected to rise at a rate that exceeds the interest rate,demand ________ and supply ________.

• A)decreases;increases
• B)increases;decreases
• C)increases;increases
• D)decreases;decreases
• E)increases;does not change

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Definitions:

Labor Union

An organization of workers formed to protect and advance their rights and interests, commonly through collective bargaining.

Maslow's Hierarchy

A psychological wellness theory based on satisfying inherent human necessities in order, ultimately leading to self-actualization.

Alderfer's ERG Theory

A theory in psychology that categorizes human needs into three categories: Existence, Relatedness, and Growth, positing that these needs can influence people's behavior.

Herzberg's Two-Factor Theory

A motivational theory that suggests job satisfaction and dissatisfaction arise from two different sets of factors – hygiene factors and motivators.