What Is the Rate at Which Goods and Services Are

question 186

Multiple Choice

What is the rate at which goods and services are produced based upon total output given total inputs?

• A) Goods
• B) Services
• C) Production
• D) Productivity

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price point in a certain period.

Decrease

A reduction in quantity, size, or intensity of a particular entity or activity.

Increase

An upward movement in quantity, price, or value.

Increase in Supply

A situation where the quantity of a good or service that producers are willing to supply at a given price rises.