Figure 4-9 -Refer to Figure 4-9.The Movement from Point a to Point

question 296

Multiple Choice

Figure 4-9

-Refer to Figure 4-9.The movement from point A to point B on the graph is called

• A) a decrease in supply.
• B) an increase in supply.
• C) an increase in the quantity supplied.
• D) a decrease in the quantity supplied.

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Definitions:

Services Society

A society where the economy is significantly driven by the provision of services rather than the production of goods.

Freshwater

Refers to water bodies like lakes, rivers, and ponds that have low salt concentrations compared to seawater.

Scarce

In short supply; a resource is scarce when there is not enough of the resource available to satisfy all the various ways a society wants to use it.

Physical Capital

The tangible assets that are used in the production of goods and services, including buildings, machinery, and equipment.