If the Supply Curve of a Commodity Is Upward Sloping

question 93

Multiple Choice

If the supply curve of a commodity is upward sloping, and the producing country begins to export more in a pure free trade system, the domestic price of the commodity will

• A)fall.
• B)rise.
• C)exceed the price in foreign countries.
• D)be below the price in foreign countries.

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Definitions:

Others' Efforts

The contribution and hard work of other people which can impact an individual's motivation and performance.

Group Decision-Making

The process of making choices or solving problems as a group, rather than by an individual.

Social Loafing

The tendency of individuals to exert less effort when working in a group than when working alone.

Groupthink

A tendency toward flawed group decision making when group members are so intent on preserving group harmony that they fail to analyze a problem completely.