Other Things Constant, as the Price of a Resource Increases

question 257

Multiple Choice

Other things constant, as the price of a resource increases,

• A) the quantity of the resource demanded falls.
• B) the quantity of the resource supplied falls.
• C) the price of the product the resource helps to produce falls.
• D) there is less of an incentive for users of the resource to find substitute resources.

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Definitions:

Behaviour Modelling Training

A method of training that involves observing, learning, and replicating the behavior of a role model to acquire new skills or behaviors.

Service Organizations

Businesses that primarily provide intangible products, such as hospitality, banking, and healthcare, to meet the needs of their customers.

Organizational Behaviour Modification

A systematic approach to influencing and modifying employees' behaviors in the workplace to improve productivity and satisfaction.

Task Performance

The execution and effectiveness with which an individual completes the specific duties and responsibilities of their job.