Use the Following to Answer Question(s): Shifts in Demand and Supply

question 94

Multiple Choice

Use the following to answer question(s) : Shifts in Demand and Supply

-(Exhibit: Shifts in Demand and Supply) Which graph best illustrates what happened in the desktop calculators market when handheld calculators were invented and came on the market?

• A) the movement from M to N in Panel (a).
• B) the movement from O to P in Panel (b).
• C) the movement from N to M in Panel (a).
• D) the movement from P to O in Panel (b).

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Definitions:

Skill Levels

Refers to the range or degree of competencies and expertise possessed by an individual or required for a job.

Capital Investment

The expenditure of money to acquire or upgrade physical assets such as property, industrial buildings, or equipment to increase operational capacity or efficiency.

Human Capital

The competencies, insights, and background that an individual or community has, seen from the perspective of their monetary or value contribution to an entity or state.

Physical Capital

Tangible assets that are used in the production of other goods or services, such as buildings, machinery, and equipment.