Which of the Following Explains the Statement "All Resources Are

question 23

Multiple Choice

Which of the following explains the statement "All resources are fungible"?

• A)It means that all resources can be regulated by the government.
• B)It means that all resources can be replaced by substitutes.
• C)It means that all resources cannot be duplicated.
• D)It means that all resources cannot be recycled and reused.

---

Definitions:

Quantity Supplied

The amount of a good that producers are willing and able to sell at a given price over a specified period.

Price of Desks

The amount of money required to purchase a desk, determined by factors like supply, demand, and production costs.

Supply

the total amount of a specific good or service that is available to consumers.

Inferior Good

A type of good for which demand decreases as the income of the individual increases, inversely related to income.