Economic Theory Posits That a Resource Which Is Finite and Being

question 47

Multiple Choice

Economic theory posits that a resource which is finite and being depleted will rise in price continuously, and demand will be reduced.In fact, a recent study, graphing the price behavior of lead, zinc and copper found that until about 2007,

• A)​prices rose steadily, as predicted.
• B)​prices dropped precipitously.
• C)​prices remained remarkably stable. 
• D)​prices were up and down with no discernible pattern.

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Definitions:

Interest Rate

The fee, represented as a fraction of the initial sum, that a creditor levies on a debtor for asset utilization.

Interest Rates

A borrower pays this rate, calculated as a percentage of the principle, to a lender in exchange for the use of assets.

Investments

Assets or commodities acquired with the intention of generating income or appreciating in value over time.

Cash Quickly

A term referring to methods or strategies used to obtain liquid funds in a short period of time.