One Reason That Helps to Explain the Law of Supply

question 186

Multiple Choice

One reason that helps to explain the law of supply is the law of

• A) diminishing marginal utility.
• B) diminishing marginal returns.
• C) decreasing opportunity costs.
• D) demand.

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Definitions:

Infant Mortality Rate

The rate at which infants less than one year old die in a given population, typically expressed per 1,000 live births.

Family Groups

Social units consisting of individuals related by blood, marriage, or adoption, traditionally living together or in close proximity.

North American Indians

Indigenous peoples who lived in what is now Canada, the United States, and parts of Mexico before European colonization.

Catholicism

The branch of Christianity headed by the Pope, with its spiritual and administrative center located in the Vatican City.