If the Demand for a Good Increases,it Is Likely That

question 62

Multiple Choice

If the demand for a good increases,it is likely that the demand for the factors of production used as inputs will:

• A) decrease.
• B) increase.
• C) stay the same.
• D) None of these statements is true.

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Definitions:

Agricultural Products

Items derived from farming activities, including both food products like fruits, vegetables, and grains, as well as non-food items like cotton and wool.

Farm Productivity

The measure of output (crop or livestock) produced per unit of input (such as land, labor, or capital) on a farm.

U.S. Farm Products

Agricultural goods produced in the United States, which include a wide range of food and raw materials.

Foreign Tariffs

Taxes imposed by a government on goods and services imported from other countries, often used to protect domestic industries.