Which of the Following Explains Why Commodity Prices Have Fallen

question 7

Multiple Choice

Which of the following explains why commodity prices have fallen since 1850?

• A) The demand for productive resources has fallen faster than the supply of those resources.
• B) The demand for productive resources has grown faster than the supply of those resources.
• C) The supply of productive resources has increased, while the demand has fallen.
• D) The supply of productive resources has grown faster than the demand for those resources.

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Definitions:

Damages

Financial compensation awarded by a court to indemnify a harmed party for loss or injury resulting from a breach of contract or wrongdoing.

Quantum Meruit

(“as much as is deserved”) a reasonable price paid for requested services.

Equitable Remedies

Judicial remedies requiring a party to act or refrain from acting in a certain way, often used when monetary compensation is insufficient.

Specific Performance

A legal remedy where a court orders a party to fulfill their obligations under a contract, rather than just paying damages.