When Economists Say the Quantity Supplied of a Product Has

question 173

Multiple Choice

When economists say the quantity supplied of a product has decreased, they mean the

• A) supply curve has shifted to the left.
• B) supply curve has shifted to the right.
• C) price of the product has risen, and consequently, suppliers are producing more of it.
• D) price of the product has fallen, and consequently, suppliers are producing less of it.

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Definitions:

Essentially

At its core or in its most basic nature.

Humans

Refers to Homo sapiens, the species of bipedal primates to which all modern human beings belong.

Frustrated

Feeling of distress or annoyance resulting from unresolved problems or unmet needs.

Shadow

In Jungian psychology, the aspect of the personality that contains all the parts of oneself that are rejected, ignored, or undeveloped.