The Specific­factors Model Concludes That If There Is a

question 34

Multiple Choice

The specific­factors model concludes that if there is a
Decrease in relative price (and an expansion) in one
Industry, the factor specific to that industry:

• A)will experience an increase in its marginal product.
• B)will experience a decrease in its marginal product.
• C)will be transferred to other industries.
• D)will have competition as additional units of that specific factor are hired from other industries.

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Definitions:

Financial Crisis

A situation where the value of financial institutions or assets drops rapidly, leading to a loss of confidence among investors, savings withdrawal, and difficulties in obtaining credit.

Publicists

Professionals who specialize in generating and managing publicity for individuals, businesses, or products, primarily through media coverage.

Personal Appearances

Events or occasions where an individual is physically present to represent themselves or an organization, often for promotional purposes.

PR Department

A division within an organization dedicated to managing its public image and communications with the media and other stakeholders.