The Supply Curve for Land

question 87

Multiple Choice

The supply curve for land:

• A) is almost perfectly elastic.
• B) is almost perfectly inelastic.
• C) is downward sloping.
• D) is horizontal.

---

Definitions:

Importing Country

A country that buys goods and services from other countries for domestic consumption or use.

Tariff

A tax imposed by a government on goods and services imported from other countries, used to control trade volumes and protect domestic industries.

Oranges In South Africa

Refers specifically to the cultivation, production, and market dynamics of oranges within the South African context.

Tariff

A tax imposed by a government on goods and services imported from other countries, increasing the cost of imported goods and services.