How Will a Reduction in the Price of Cotton Influence

question 58

Multiple Choice

How will a reduction in the price of cotton influence the market for blue jeans?

• A) The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the left.
• B) The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the right.
• C) The cost of producing blue jeans will rise, and the supply curve for blue jeans will shift to the left.
• D) The cost of producing blue jeans will rise, and the supply curve for blue jeans will shift to the right.

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Uncertainty Avoidance

A cultural system of rules that minimizes ambiguity.

Cultural System

A complex ensemble of knowledge, beliefs, values, norms, customs, practices, and traditions that characterize a particular group or society.

Extraversion

A characteristic that denotes being outgoing, confident, communicative, and showing intense feelings openly.