Resource Owners Supply Resources in Ways That

question 124

Multiple Choice

Resource owners supply resources in ways that

• A)maximize their utility
• B)maximize their income
• C)minimize the amount of work
• D)maximize the amount of work
• E)maximize the demand for their resource

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Definitions:

Demand

The amount of a product or service that buyers are ready and capable of buying at different price points.

Public Utilities

Companies that provide essential services such as water, electricity, and telecommunications to the public, often under government regulation.

Electricity

A form of energy resulting from the existence of charged particles such as electrons or protons.

Oil

A natural fossil fuel composed primarily of hydrocarbons, used globally as a primary source of energy and in various industrial applications.