Prices in Resource Markets

question 6

Multiple Choice

Prices in resource markets

• A) provide users with information concerning the relative scarcity of resources.
• B) encourage the use of a resource now if its price is expected to rise in the future.
• C) provide suppliers with little incentive to develop more of those resources that are intensely demanded by users.
• D) have little impact on productive decisions unless they are closely regulated by the government.

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Definitions:

Dependent Variable

The variable in an experiment that is expected to change as a result of manipulations of the independent variable.

Hydroxide ions

Negatively charged ions made up of one oxygen and one hydrogen atom, symbolized as OH-.

Alkaline Solution

A solution with a pH value greater than 7, indicating it has fewer hydrogen ions than pure water and is commonly referred to as basic.

Basic Solution

A solution that has a pH greater than 7, indicating it has a higher concentration of hydroxide ions than hydrogen ions.