Although Horses Were Once a Very Important Factor of Production

question 334

Multiple Choice

Although horses were once a very important factor of production, the development of automobiles and other machinery reduced the demand for their use. This is an example of:

• A) technological progress shifting the demand for horses to the left.
• B) higher marginal costs for horses shifting demand for horses to the right.
• C) technological progress shifting the demand for horses to the right.
• D) higher marginal costs for horses having no impact on the demand for horses.

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Definitions:

Water

A chemical compound with the formula H2O, consisting of two hydrogen atoms bonded to an oxygen atom, essential for most forms of life.

Moles

A unit of measurement used in chemistry to express amounts of a chemical substance, defined as the amount containing exactly 6.02214076×10²³ particles.

Isopropanol

Also known as isopropyl alcohol, a colorless, flammable chemical compound with a strong odor, used as a solvent and disinfectant.

Moles

In chemistry, a unit that measures the amount of substance, defined as containing exactly 6.02214076 × 10^23 particles, such as atoms, molecules, ions, or electrons.