An Increase in the Price of a Resource Would Cause

question 38

Multiple Choice

An increase in the price of a resource would cause

• A) producers to substitute other inputs for the resource.
• B) consumers to increase consumption of the goods that increase in price as the result of the higher resource price.
• C) an increase in the demand for products that use the resource intensely.
• D) a reduction in the price of goods produced with the resource.

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Definitions:

Entertainment

Activities, performances, or media produced to provide enjoyment and amusement to an audience.

Software Piracy

Illegally copying, distributing, or using software.

Project Management

The practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.

Web-Based

Referring to applications or services accessed over the Internet using a web browser.