Which of the Following Will Cause a Movement Along a Good's

question 65

Multiple Choice

Which of the following will cause a movement along a good's supply curve?

• A) The price of an input increases.
• B) The price of the good increases.
• C) The production process of the good becomes more efficient.
• D) More firms enter the market.
• E) The government places a subsidy on the producer of the good.

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Definitions:

Wealth

The abundance of valuable resources or material possessions, or the control of such assets, which gives an individual or group economic power.

Income

The money received, usually on a regular basis, for work or through investments.

Caste System

An almost pure ascription-based stratification system in which occupation and marriage partners are assigned on the basis of caste membership.

Functional Theory

A theoretical perspective that analyzes society in terms of the functions performed by its different components or institutions.