Microeconomic Theory Is Based on Supply and Demand

question 23

Multiple Choice

Microeconomic theory is based on supply and demand. Which of the following statements illustrates this?

• A) The demand for nurses in public health is low, but the supply is high.
• B) When few goods or services are available, the price tends to rise.
• C) When supplies are low, nurses must find alternate resources.
• D) In lesser-developed countries, the supplies are often delivered by technologically advanced countries.

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Definitions:

Structural-Functional Explanation

A theoretical perspective in sociology and anthropology that sees society as a complex system whose parts work together to promote solidarity and stability.

Cremains

That which is left after cremation.

Cryonics

The practice of freezing individuals who have died, with the hope that future technology may revive and cure them.

Ashes

The residue left after a body has been cremated, often considered by various cultures for memorial practices.