When a Resource Used in the Production of a Good

question 174

True/False

When a resource used in the production of a good sold in a competitive market is available in only limited quantities, the long-run supply curve is likely to be upward sloping.

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Definitions:

U.S.-Based NGOs

Non-governmental organizations headquartered in the United States that operate on both a domestic and international level, focusing on various issues such as humanitarian aid, environment, and human rights.

Global Presence

The extent to which a company or brand operates in multiple countries around the world and is recognized and available across international markets.

Few Volunteers

A situation where there is a shortage of individuals willing to offer their time and services for a cause or organization without financial compensation.

Nonprofit Organizations

Entities that operate for a collective, public or social benefit, rather than to generate profit for owners or investors.