A Decrease in Supply Is Caused By

question 56

Multiple Choice

A decrease in supply is caused by:

• A) an increase in returns from other alternative activities.
• B) suppliers' expectations of lower prices in the future.
• C) an advancement in the technology for producing the good.
• D) a decrease in the price of a good using the same resources.

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Definitions:

Pounds

A unit of weight commonly used in the United States, equivalent to 16 ounces.

Gold

A precious metal with a yellow color, used in jewelry, electronics, and as an investment commodity.

Silver

A precious metal with high electrical conductivity and thermal conductivity, widely used in jewelry, currency, and various industrial applications.

Ounces

A unit of weight in the avoirdupois system, equivalent to 1/16th of a pound or approximately 28.349 grams.