Resource X Is Necessary to the Production of Good Y

question 147

Multiple Choice

Resource X is necessary to the production of good Y.If the price of resource X rises,

• A) the supply curve of Y shifts leftward.
• B) the supply curve of Y shifts rightward.
• C) the supply curve of Y is unaffected.
• D) there is a movement down the supply curve of Y.
• E) there is a movement up the supply curve of Y.

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Definitions:

Foreign Labour

workers from one country who are employed in another country, often to fulfill labor shortages or take on jobs not filled by the local workforce.

Commodification

The process by which something, often non-material, becomes transformed into a good or service for economic exchange.

Rationalization

The process of replacing traditional and emotional thought with reason and efficiency, often applied in organizational and economic contexts.

Memorize Scripts

The process of committing a text to memory for the purpose of recitation or performance without reference to the original.