Figure 3-2 -Refer to Figure 3-2.A Decrease in the Number of Firms

question 157

Multiple Choice

Figure 3-2
-Refer to Figure 3-2.A decrease in the number of firms in the market would be represented by a movement from

• A)A to B.
• B)B to A.
• C)S₁ to S₂.
• D)S₂ to S₁.

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Definitions:

Increased

Describes something that has grown or risen in number, size, value, or extent.

Communism

A political and economic ideology advocating for a classless society and the abolition of private property, where goods and services are shared by the community.

Industrial Working Class

Refers to employees who work in industrial sectors such as manufacturing, mining, and construction, often recognized for labor-intensive jobs.

European Industries

Sectors of economy involved in the manufacturing and production of goods in European countries, known for their innovation and competitiveness.