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Author Question: The buyers and sellers in a resource market are: a. household and firms respectively. b. banks and ... (Read 43 times)

dmcintosh

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on: Jun 30, 2018
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


joneynes

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


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