As the Quality of Available Resources Becomes Worse

question 58

Multiple Choice

As the quality of available resources becomes worse:

• A)aggregate demand falls.
• B)aggregate demand rises.
• C)aggregate supply falls.
• D)aggregate supply rises.

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Definitions:

Production Process

The series of steps involved in the creation of a product or service, from the input of raw materials to the final output.

Factors Of Production

The inputs used in the production of goods or services to make an economic profit, including land, labor, capital, and entrepreneurship.

Productivity

The measure of how efficiently goods and services are produced, often quantified as output per unit of input.

Determinant

A factor that decisively affects the nature or outcome of something.