What Would an Increase in the Price of a Resource

question 93

Multiple Choice

What would an increase in the price of a resource cause?

• A) an increase in the price of substitute resources in production
• B) producers to use more of the resource in the production of their goods
• C) consumers to substitute other products for goods that increase in price as the result of the higher resource price
• D) an increase in the demand for products that use the resource intensely

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Definitions:

Simpler Forms

Easier or less complex versions or formats of something.

Registration System

A system or method for recording and tracking information or data, often used for legal, organizational, or administrative purposes.

Offered For Sale

The act of making a product, asset, or property available to be purchased by others.

Securities And Exchange Commission

The Securities and Exchange Commission (SEC) is a United States federal agency responsible for regulating the securities markets and protecting investors.