Consider the Global Market for Some Mineral,X

question 165

Multiple Choice

Consider the global market for some mineral,X.In January,2017,the equilibrium price and quantity were P = $27 per unit and Q = 140 million units.In January,2019,the equilibrium price and quantity were P = $27 per unit and Q = 175 million units.Which of the following is the best possible explanation for this change in market equilibrium?

• A)There has been a simultaneous increase in demand for,and increase in supply of,mineral X.
• B)There has been an increase in demand for mineral X.
• C)There has been an increase in quantity demanded for mineral X.
• D)There has been an increase in supply of mineral X.
• E)There has been an increase in quantity supplied of mineral X.

---

Definitions:

Paternalistic Ideology

A belief system that justifies the unequal distribution of power, where those in power control or influence those without power under the guise of providing for their needs.

Slave Community

A social and cultural formation of enslaved people, often forming familial and communal bonds under conditions of slavery.

Black Family

The social, cultural, and economic dynamics unique to African American families, influenced by historical, racial, and societal factors.

Paternalistic Ideology

A belief system in which authority figures control the needs of others, justifying their control by asserting their superior wisdom or benevolence.