When Firms in an Economy Start Producing More Computers and Fewer

question 251

Multiple Choice

When firms in an economy start producing more computers and fewer televisions, they are answering the question.

• A) "where"
• B) "for whom"
• C) "what"
• D) "when"

---

Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a specified time period.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period.

Labor Force

The total number of people employed or seeking employment in an economy at a given time.

Capital

Financial assets or the financial value of assets, such as cash and goods, used by a business to produce goods or services and achieve its objectives.