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What are storable resources?

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Garima Menon
Garima MenonLv7
31 Mar 2021
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Related textbook solutions

Principles of Economics
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ISBN: 9781947172364
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Related questions

5. When the number of suppliers increases, the equilibrium price ___ and the equilibrium quantity ___.

a.Increases; increases

b.Decreases; decreases

c.Increases; decreases

d.Decreases; increases

e.None of the above

6. ___ in prices is a variation in prices within a year.

a.Cyclicality

b.Perishability

c.Storability

d.Seasonality

e.None of the above

7. Total disappearance = :

a.Beginning stocks + Production + Imports

b.Beginning stocks - Production + Imports

c.Domestic use + Exports

d.Domestic use - Exports

e.None of the above

8. For a once-a-year harvested storable commodity, the lowest prices are observed:

a.At harvest

b.As the harvest supplies dwindle

c.Before the new harvest

d.Can't tell from the information provided

e.None of the above

9. The difference between the prices farmers receive and those that consumers pay for equivalent amounts of food is called:

a.Price spread

b.Marketing spread

c.Marketing margin

d.Farm-to-retail price spread

e.All of the above

10. ___ is the breakdown of how the consumer dollar is allocated between farm and marketing

costs.

a.Retail price

b.Farm price

c.Marketing cost

d.Food marketing bill

e.None of the above

What is true about economic resources?

A) Economic resources include only money.

B) Economic resources are limited.

C) Economic resources exist only at the individual level.

D) Economic resources are always controlled by the government.

Which of the following is the assumption of the production possibilities curve?

A. Resources are fully utilized

B. Resources are underutilized

C. Resources are expanding continuously

D. Resources are non-renewable

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