An Increase in the Quantity and Quality of Natural Resources

question 89

True/False

An increase in the quantity and quality of natural resources is a demand factor for economic growth.

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Definitions:

Easily Stored

Refers to items or data that can be kept or archived with minimal effort or resources.

Current Supply

The total amount of a particular good or service available to consumers at the current time.

Price Floor

A government- or group-imposed price control that sets the lowest legal price a commodity can be sold at to prevent market prices from falling below a certain level.

Equilibrium Quantity

The amount of products or services available and sought after at the equilibrium price, where the quantity supplied matches the quantity demanded.