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Other things equal If the price of a key resource used to produce product X falls the?
If the price of a key resource used to produce product X falls, the production costs for product X will decrease, making it cheaper to produce. This often leads to an increase in supply, as producers are willing to supply more at each price level. Consequently, the market supply curve for product X shifts to the right, potentially lowering the market price and increasing the quantity sold. Overall, consumers may benefit from lower prices and greater availability of product X.
What else can I help you with?
Goods that are used to produce other goods and services are called what resource?
correct answer is Factors of production
What is a manufactured good that is used to produce other goods and services called an economic want or a capital resource?
Capital
A nation is said to have a comparative advantage when it is able to?
produce a product at a lower price than other nations.
When a country is able to produce a product at a lower price than other countries it is said to have?
lopol
The ability to produce a specific product more efficiently than any other nation?
absolute advantage
What is a manfactured good that is used to produce other good and services called an economic want or a capital resource?
RESOURCE?
When a country can produce many things but chooses to produce onwe thing is said to be?
When a country can produce many things but chooses to produce only one thing, it is said to have a comparative advantage in that particular good. This means that the country can produce that item at a lower opportunity cost compared to other goods, making it more efficient to specialize in that product.
What is an example between resource markets and product markets?
Let me explain with a house/flat sale. Resource market for this includes the labor that includes to build a house, and also the window grills, wooden doors and all other things which should be necessary to build a house. Product market for this the market to which the house is sold.
Goods that are used to produce other goods and services are called what resource?
correct answer is Factors of production
Are fish fossils a resource?
It depends what you mean by resource. They are a resource of collectable material used by paleontologists and some hobbyists, but in the normal run of things they are no more a resource than any other rock.
What waste product does cyanobacteria produce?
photosynthesis
Air water and other things you get from Earth are called?
natural resource
What is a manufactured good that is used to produce other goods and services called an economic want or a capital resource?
Capital
A nation is said to have a comparative advantage when it is able to?
produce a product at a lower price than other nations.
What is involved in resource management?
The term resource management basically explains what is involved. There are a variety of things that require resource management such as Human Resource Management. This pertains to the management of resources such as staff, conduct, job descriptions and duties as well as a number of other things included in the management of various resources.
What makes WestJet a quality travel resource?
WestJet is a quality travel resource because it can be used to book hotels, travel and many other things.
What Type of resource is a machine?
The clock is a machine because it has gears and levers and other things of metal inside it, thus it is a machine. Furthermore, it is a resource because it ccan tell you the time which is an very important thing to know so that you can know for example what time you need to go to the bathroom.
