The Short-Run Supply of a Human Resource Will Be More

question 193

Multiple Choice

The short-run supply of a human resource will be more elastic the

• A) more elastic the demand for the product to be produced.
• B) more inelastic the demand for the product to be produced.
• C) lower the skill level necessary to perform the job.
• D) harder it is to acquire the skill and knowledge necessary to provide the resource.

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Definitions:

Homo Habilis

An extinct species of early human that lived approximately 2.1 to 1.5 million years ago, recognized for its use of stone tools.

Stone Tools

Prehistoric tools made from stone by early humans for cutting, scraping, and other activities.

Bipedal

The ability to walk on two legs, a key characteristic that differentiates humans and some other species from most animals.

Homo Erectus

An extinct species of early human that lived throughout much of the Pleistocene geological epoch, known for its upright walking ability.