The Market Price of a Factor of Production That Is

question 256

True/False

The market price of a factor of production that is in fixed supply is determined only by demand.

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Definitions:

Adaptability

The capacity to adjust to new conditions or changes in one's environment.

Efferent Nerves

Nerve fibers that carry signals away from the brain and spinal cord to the muscles and glands, facilitating action and response.

Afferent

Referring to the transmission of signals towards a central point, particularly nerves that carry impulses towards the brain or spinal cord.

Pyramidal

Referring to a structure, cell, or organization shaped like a pyramid, often used in describing certain brain cells or hierarchical systems.