In the market for resources, demand and supply:
a. do not behave in the same way as they do in product markets.
b. behave in exactly the same way as they do in product markets.
c. curves usually do not intersect at equilibrium.
d. are both controlled by firms.
e. are both controlled by households
Question 2
Which of the following is a possible cause of an increase in profit from the sale of goods and services?
a. A decrease in the per capita income of consumers
b. A decrease in the price of a substitute good or a service
c. An increase in the availability of raw materials
d. A decrease in the price of a good or service, everything else held constant
e. An increase in the price of a good or service, everything else held constant
The role of the liver in fuel supply to the blood.
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The growth in demand for oil in China is driven by the growth in demand for personal transport
Economic recession in 2008 saw a small decrease in demand