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
Attention and memory are in demand during circle time.
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
Economic recession in 2008 saw a small decrease in demand
As the world’s population continues to grow, demands on limited resources for food production
Testing the arterial supply to the lower extremities
Markets and Institutions Market Story Problem