What Were the Main Commodities That Increased in Production After

question 26

Multiple Choice

What were the main commodities that increased in production after Japan emerged from isolation?

• A)tin and rice
• B)tin and rubber
• C)silk and rice
• D)rubber and coffee
• E)coffee and sugar

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Definitions:

Diminishing Returns

A principle stating that if one factor of production is increased while other factors are held constant, the output per unit of the variable factor will eventually decrease.

Fixed Resources

Assets and inputs in production that remain constant regardless of the level of output.

Diseconomies of Scale

A condition in which a firm experiences an increase in average costs as it increases its output, due to factors such as inefficiencies or complexity.

Marginal Product

The change in total output that results from the employment of one additional unit of a resource.