The Following Graph Depicts the Market for Shoes in a Particular

question 124

Multiple Choice

The following graph depicts the market for shoes in a particular country.Use the graph to answer the following questions:

-If this country does not engage in trade with other countries,then the price of shoes will be ________ and the quantity of shoes sold will be ________.

• A) $120; 120
• B) $120; 75
• C) $90; 120
• D) $90; 50
• E) $90; 75

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Definitions:

Capital

Refers to financial assets or the value of financial assets owned by a business or individual, including money, investments, and other tangible assets that can be used to create wealth.

Suburbanization

The process of population movement from within urban areas to the outskirts, leading to the expansion of suburban neighborhoods.

Oil Imports

The purchasing and bringing in of crude oil or refined petroleum products from other countries into one's own country.

Farm Subsidies

Financial assistance granted by the government to farmers that aims to supplement their income and manage the supply of agricultural commodities.