In a Market System, Resources Will Move Away from an Industry

question 78

Multiple Choice

In a market system, resources will move away from an industry when

• A)profits of firms in the industry are rising.
• B)demand for the industry's product is decreasing.
• C)the production of output in the industry is rising.
• D)profits of firms in other industries are falling.

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Definitions:

Social Institutions

Established systems in society that govern behaviors and practices, including family, education, government, and religion.

Crime Against Humanity

A category of activities involving widespread or systematic attack against civilians, including acts of murder, enslavement, torture, and rape, often during times of war or by oppressive governments.

International Criminal Court

A permanent tribunal based in The Hague, Netherlands, that prosecutes individuals for international crimes such as genocide, war crimes, and crimes against humanity.

Asian American

An individual of Asian birth or descent who lives in the United States; the term encompasses a wide range of cultures, languages, and backgrounds.