A Vertical Supply Curve of a Factor Indicates That

question 195

Multiple Choice

A vertical supply curve of a factor indicates that

• A)the demand for the factor will vary directly with the price of the factor.
• B)the supply of the factor is perfectly elastic.
• C)the factor has zero opportunity cost.
• D)a government restriction has been imposed on the purchase of the factor.

Understand the components and types of love as proposed by Sternberg's triangular theory of love.

Recognize the implications and statistics related to cohabitation before marriage, including factors that influence marital satisfaction and stability.

Identify the trends and attitudes toward online dating, including common misrepresentations.

Understand the dynamics and characteristics of gay and lesbian relationships in comparison to heterosexual relationships.

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Definitions:

Product Market

A Product Market is a marketplace where final goods or services are offered to consumers, businesses, and the public sector.

Circular Flow Model

An economic model that describes the movement of money, goods and services, and resources between producers and consumers in the economy.

Entrepreneurial Ability

The skill to innovate, introduce new products or processes, and successfully manage business ventures.

Rent

A periodic payment made by tenants to owners for the use of property or land, or the income derived from the lease of such property.