A Change in the Quantity Demanded of a Given Factor

question 11

Multiple Choice

A change in the quantity demanded of a given factor of production will occur if:

• A) the productivity of that factor decreases.
• B) the productivity of that factor increases.
• C) the price of that factor rises.
• D) there is a decrease in the price of a substitute factor.

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Definitions:

U.S. Government

The federal government of the United States, consisting of three branches: executive, legislative, and judicial, established to govern the country.

Customers

Individuals or businesses that purchase goods or services from a company.

Billions

A numerical value representing one thousand million (1,000,000,000) in the American counting system.

Personality Characteristics

Traits and attributes that form an individual's distinctive character.