The Figure Given Below Shows the Demand [D and D']

question 6

Multiple Choice

The figure given below shows the demand [D and D'] and supply [S and S'] curves of shares of stock.Figure 17.2

-When does a resource earn only economic rent?

• A)When the supply curve of the resource is relatively elastic
• B)When the supply curve of the resource is horizontal
• C)When the supply curve of the resource is vertical
• D)When the supply curve of the resource is relatively inelastic
• E)When the supply curve of the resource is backward bending

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Definitions:

Cognition

The mental action or process of acquiring knowledge and understanding through thought, experience, and the senses.

Culture

The sum of attitudes, customs, and beliefs that distinguishes one group of people from another, transmitted through language, material objects, ritual, institutions, and art, from one generation to the next.

Vygotsky

A Soviet psychologist known for his work on psychological development in children, emphasizing the roles of cultural mediation and social interaction.

Cross-cultural

Relating to or involving comparison between two or more different cultures or cultural areas.