Changes in Cost of an Activity Can Occur If the Demand

question 41

True/False

Changes in cost of an activity can occur if the demand for the resource exceeds the supply or if the demand for the resource drops.

---

Definitions:

American Industry

The sector of the U.S. economy involved in the production of goods and services, encompassing a wide range of activities from manufacturing to technology.

Automobile

A motorized vehicle on wheels, commonly propelled by an internal combustion engine or an electric motor, utilized for transport purposes.

Computer Software

A set of instructions, data, or programs used to operate computers and execute specific tasks, distinct from the physical hardware on which it runs.

Economic Functions

The roles and operations of an economy, including production, distribution, and consumption of goods and services.