A Decrease in Supply Is Caused By

question 159

Multiple Choice

A decrease in supply is caused by:

• A) a decrease in resource prices.
• B) an increase in the number of sellers in the market.
• C) suppliers' expectations of higher prices in the future.
• D) an advancement in the technology for producing the good.

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Definitions:

Apartheid

The system of institutionalized racial segregation and discrimination that existed in South Africa from 1948 until the early 1990s.

Jim Crow Laws

Racial segregation laws enacted in the late 19th and early 20th centuries in the Southern United States, which enforced racial segregation and disenfranchised African Americans.

Extreme Wealth

Refers to the possession of financial assets and resources that vastly exceed those of the average individual, often to the point of allowing significant influence over economic and political processes.

Social Problem

Issues within a society that are viewed as undesirable, harmful, or needing address, such as poverty or discrimination.