The Dominant Physical Resources from the Sea Are

question 3

Multiple Choice

The dominant physical resources from the sea are:

• A) magnesium and iron.
• B) salt and water.
• C) gold and copper.
• D) sulfides and manganese.
• E) gold and oxygen.

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Definitions:

Barriers To Entry

Factors that make it difficult for new competitors to enter an industry, often protecting existing companies from competition.

Demand Curves

A graphical representation used in economics to show the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at various prices.

Long Run

When all costs become variable costs and firms can enter or leave the industry.

Covert Collusion

A secretive agreement among firms to fix prices, limit production, or divide markets, which is illegal and against regulatory policies.