If There Is a Shortage of Product X, and the Price

question 12

Multiple Choice

If there is a shortage of product X, and the price is free to change,

• A) fewer resources will be allocated to the production of this good.
• B) the price of the product will rise.
• C) the price of the product will decline.
• D) the supply curve will shift to the left and the demand curve to the right, eliminating the shortage.

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Definitions:

Decomposers

Organisms that break down dead or decaying organisms, contributing to the nutrient cycle by recycling nutrients back into the ecosystem.

Food Chain

The order in which one population feeds on another in an ecosystem, thereby showing the flow of energy from a detritivore (detrital food chain) or a producer (grazing food chain) to the final consumer.

Algae

A diverse group of photosynthetic organisms, ranging from unicellular microalgae to large multicellular forms, that are typically found in aquatic environments.

Insect Larvae

are the juvenile form of insects following hatching from eggs, before metamorphosing into their adult forms.