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.

Understand the concept of modernization and its global implications.

Identify the key elements and processes associated with globalization.

Recognize the diversity and dynamics of cultural policies, such as multiculturalism and its contrast.

Analyze the impact of historical events and explorations on contemporary society.

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Definitions:

Subordinates

Individuals who are under the authority and direction of a higher-ranking manager or leader within an organization.

Illegal Activities

Actions or conduct that are forbidden by law and subject to criminal penalties or sanctions.

Ingratiation

A psychological technique wherein an individual attempts to become more attractive or likable to their target, often through flattery or other acts of kindness.

Compliments

Expressions of praise, congratulation, or encouragement.