Use the Following to Answer Questions

question 15

Multiple Choice

Use the following to answer questions:
Figure: Supply Shift
-(Figure: Supply Shift) What would cause the supply curve to shift from S₂ to S₁ as shown in the diagram?

• A) a decrease in the opportunity costs of producing the good
• B) a decrease in the costs of production
• C) an increase in the prices of inputs used in production
• D) an expected decrease in the future price of the good

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Definitions:

Biological Needs

Essential physiological requirements that maintain life, such as the need for oxygen, food, water, and sleep.

Social Needs

Human needs that relate to interaction with others, including belonging, love, and affection, often positioned as essential for psychological well-being.

Motivation Theorists

Scholars and psychologists who study and explain the psychological processes that trigger, direct, and sustain human behavior towards attaining a goal.

Internal State

The condition or situation of an individual's inner self, typically referring to mental, emotional, or physiological status.