The buyers and sellers in a resource market are:
a. household and firms respectively.
b. banks and farmers respectively.
c. households and land owners respectively.
d. firms and household respectively.
e. exporters and importers respectively.
Question 2
Which of the following is likely to cause an outward shift of a production possibility curve?
a. An increase in the price of the commodity represented on the horizontal axis
b. A fall in the cost of producing the commodity represented on the vertical axis
c. An improvement in the available technology
d. A fall in the supply of resources
e. An increase in the supply of unskilled workers
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