Which Factor Would Cause a LEFTWARD Shift in the Supply

question 207

Multiple Choice

Which factor would cause a LEFTWARD shift in the supply curve for a good?:

• A)an increase in the number of sellers
• B)a technological improvement in production
• C)an increase in the cost of an input
• D)an increase in the number of buyers

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Definitions:

Leveling Mechanism

A cultural obligation compelling prosperous members of a community to give away goods, host public feasts, provide free service, or otherwise demonstrate generosity so that no one permanently accumulates significantly more wealth than anyone else.

Task Specialization

A process in which different individuals or groups within a community or organization focus on specific tasks or roles, contributing to efficiency and expertise development.

Postindustrial Societies

Societies characterized by an economy focused on services and technology rather than on industrial production.

Gender Divisions

The social, economic, and cultural distinctions and roles assigned to people based on their perceived or actual sex or gender identity.