An Increase in the Demand for a Resource

question 52

Multiple Choice

An increase in the demand for a resource

• A) will cause the price of that resource to fall.
• B) may be the result of a decrease in the demand for products utilizing this resource.
• C) will cause the price of the resource to fall by a smaller amount in the short run than in the long run.
• D) will increase the price of the resource and, thereby, increase the incentive of potential suppliers to provide the resource in the future.

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Definitions:

Interdependencies

Mutual dependencies between tasks, processes, or entities where the outcome or performance of one is reliant on another.

Tasks

Specific pieces of work or activities assigned to an individual or a group to be completed.

Delays

Periods of time by which something is late or postponed.

Project Management

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