Even if demand for a resource grows over time, ever-rising prices of the resource that result from its growing scarcity still discourage consumption

a. True
b. False
Indicate whether the statement is true or false

True

Economics

You might also like to view...

Economists refer to expenditures on training, education, and skill development designed to increase the productivity of an individual as: a. overhead expenditures

b. investments in human capital. c. marginal revenue product. d. investments in social capital.

Economics

When will speculators' actions raise social welfare?

a. Always. b. When they drive down market prices. c. When their expectations prove to be correct. d. When they are not risk averse.

Economics