Use the Table Below to Answer the Following Questions

question 31

Multiple Choice

Use the table below to answer the following questions.
Table 3.5.3
Demand and supply schedules for designer sport t-shirts at CoolU

-Refer to Table 3.5.3. A new store opens up on the edge of campus, Great Wild North Sportswear, which has the capacity to do as much business as all the existing businesses. The quantity of t-shirts supplied doubles at each price. This would be represented as a

• A)movement up along the demand curve.
• B)rightward shift of the demand curve.
• C)leftward shift of the demand curve.
• D)rightward shift of the supply curve.
• E)leftward shift of the supply curve.

Examine how differences in production costs between nations facilitate international trade.

Interpret economic data to determine comparative and absolute advantages between countries.

Understand the effect of technological capabilities on national export and import patterns.

Discuss the impact of global shifts in resources and technology on trade patterns.

---

Definitions:

Functional Analysis

A study aimed at understanding the purpose or role of an entity or behavior within a system, often used in psychology to understand the causes of behavior.

Functional Fixedness

Functional fixedness is a cognitive bias that limits a person to using an object only in the way it is traditionally used, which can hinder the solving of new problems.

Positive Transfer

The beneficial effect of past learning on the acquisition of new knowledge or skills.

Means-end Analysis

A problem-solving technique that involves breaking down a problem into smaller, more manageable parts to achieve a desired goal.