Goods That Can Be Produced Using Rare Productive Resources Have

question 78

Multiple Choice

Goods that can be produced using rare productive resources have a ________ elasticity of supply.The greater the amount of time available after a price change,the ________ is the elasticity of supply.

• A)low;smaller
• B)high;greater
• C)high;smaller
• D)low;greater
• E)high;more inelastic

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Definitions:

Focused Freewriting

A writing strategy involving continuous, nonstop writing for a set period of time, concentrating on a specific topic or question.

Brainstorming

A technique for fostering collective creativity, where the aim is to resolve a particular issue by compiling ideas that spontaneously arise from the contributions of group participants.

Clustering

A method used to organize ideas or information into groups based on common characteristics, often used in brainstorming and problem-solving processes.

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Automobiles designed to use less fuel for the same distance traveled, reducing environmental impact and saving costs.