The Main Determinant of Elasticity of Supply Is the

question 375

Multiple Choice

The main determinant of elasticity of supply is the

• A)number of close substitutes for the product available to consumers.
• B)amount of time the producer has to adjust inputs in response to a price change.
• C)urgency of consumer wants for the product.
• D)number of uses for the product.

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Definitions:

Anthropocentric

A viewpoint that regards humans as the central and most significant entities in the universe, often evaluating other beings in terms of their utility for humans.

Biocentric

An ethical viewpoint that emphasizes the intrinsic value of all living things, not just humans.

Ecofeminist

An advocate of the movement that sees a connection between the exploitation and degradation of the natural world and the subordination of women.