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Author Question: Because resources are scarce, the production of more capital goods means that fewer resources are ... (Read 126 times)

sc00by25

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on: Jun 29, 2018
Because resources are scarce, the production of more capital goods means that fewer resources are available to produce consumption goods, so there is less current consumption. Do you agree or disagree? Explain.
 
  What will be an ideal response?

Question 2

How does a change in quantity supplied differ from a change in supply?
 
  A) A change in quantity supplied shifts the supply curve; a change in supply is a movement along the curve.
  B) A change in one of the ceteris paribus conditions affects quantity supplied, not supply.
  C) A change in the price affects quantity supplied, not supply.
  D) There is no difference.


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covalentbond

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Agree. Capital goods are goods that are used to produce other goods rather than for the sake of current consumption. The resources used to make capital goods are not available to produce current consumption goods, so there is less current consumption.

Answer to Question 2

C


sc00by25

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Reply 2 on: Jun 29, 2018
:D TYSM

flexer1n1

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Reply 3 on: Yesterday
Wow, this really help

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