Use the Accompanying Figure to Answer the Following Question

question 10

Multiple Choice

Use the accompanying figure to answer the following question
-If a nonrenewable resource such as oil suddenly became scarce while demand remained constant, the price of the resource would ____________.

• A)increase
• B)decrease
• C)remain unchanged
• D)move down the demand line
• E)move down the supply line

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Definitions:

Device

An instrument or tool designed for a particular function or use, often technological or electronic in nature.

Brand Name

The name given to a product or service from a specific source, recognized by consumers as a symbol of quality and consistency.

Logo

A symbol or design adopted by an organization to identify its products, uniforms, vehicles, etc.

Brand Name

The unique name given to a product or service from a specific source, used to distinguish it from others in the market.