One Would Speak of a Change in the Quantity of a Good

question 19

Multiple Choice

One would speak of a change in the quantity of a good supplied, rather than a change in supply, if

• A)supplier expectations about future prices change.
• B)the price of the good changes.
• C)the cost of producing the good changes.
• D)prices of substitutes in production change.

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Definitions:

Potato Chips

A thin slice of potato that has been deep fried or baked until crunchy, often used as a snack food.

Pretzels

Twisted bread snacks, usually salted, and can be soft or hard, originating from Europe but popular worldwide.

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The process whereby resources are distributed in the most effective manner, maximizing the net benefits received by society.

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