​Match the Term or Concept to the Correct Description

question 66

Short Answer

​Match the term or concept to the correct description.
-​derived from the ancient remains of plants
A)​greenhouse effect
B)​carbon dioxide
C)​global climate change
D)​fossil fuels

• A)​greenhouse effect
• B)​carbon dioxide
• C)​global climate change
• D)​fossil fuels

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Definitions:

Economies of Scale

A condition where the average costs of production fall as the output level increases, leading to a more efficient production process.

Horizontal Demand

Refers to a market situation in which the demand for a product or service is not sensitive to changes in its price, often illustrated as a horizontal line on a demand curve graph.

Reselling

The act of selling a product or service again, typically after buying it from the original seller.

Demand Elasticities

Various measures that quantify the sensitivity of demand for a good or service to changes in its price or other relevant factors.