If a Product Becomes More Popular and Consumers Want More

question 182

Multiple Choice

If a product becomes more popular and consumers want more produced,which of the following best describes what happens to move more factors of production into that industry?

• A) An agency of the Federal government directs the movement of factors.
• B) The chief executive officers or presidents of corporations require that factors leave one industry and move to the other industry.
• C) Factor owners voluntarily move their factors because they want to satisfy the interests of consumers.
• D) Wages, rent, interest, and profit increase in that industry, thereby giving factors the incentive to move to that industry.
• E) Consumers increase their demand for the products and, as a result, the taxes the producers must pay decrease enabling the producers to hire more factors of production.

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Definitions:

Aging Population

A demographic trend characterized by an increase in the proportion of older individuals within the overall population, often resulting in significant social and economic impacts.

Ambulatory Care

Medical services or treatments that are provided on an outpatient basis, without the need for hospital admission.

Independent Nurse Practitioner

A nursing professional who practices autonomously in diagnosing and treating patients, often in specialized areas of healthcare.

Disease Prevention

The implementation of strategies and practices aimed at reducing the risk and incidence of diseases within a population.