Which of the Following Explains Why Local Supply Tends to Bemore

question 17

Multiple Choice

Which of the following explains why local supply tends to bemore elastic than global supply?

• A)As price increases in a certain locale, it is often costly to transport more goods to that particular area, and hence supply
• Is more elastic.
• B)Local suppliers are small in relation to the global market.
• C)The statement is false, local supply tends to be less elastic than global supply.
• D)As price increases in a certain locale, goods can be brought in from other areas, which is not possible on a global scale.(True
• Answer )Correct

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Definitions:

Due Date

The specified date by which a payment, assignment, or project must be completed or submitted.

Cash Discount

A reduction in the price of goods or services offered by the seller to encourage prompt payment by the buyer.

Discount Date

The date on which a payment is to be made earlier than its originally scheduled due date at a reduced rate.

Due Date

the specified date by which a payment, task, or project is to be completed or submitted.