SCIENCE
ENVIRONMENTAL SCIENCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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likely to be very inexpensive
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likely to be very expensive
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no way to tell cost
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likely to be biodegradable
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Detailed explanation-1: -A decrease in demand will cause the equilibrium price to fall; quantity supplied will decrease. An increase in supply, all other things unchanged, will cause the equilibrium price to fall; quantity demanded will increase. A decrease in supply will cause the equilibrium price to rise; quantity demanded will decrease.
Detailed explanation-2: -It’s a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise. There is an inverse relationship between the supply and prices of goods and services when demand is unchanged.
Detailed explanation-3: -Excess Demand: the quantity demanded is greater than the quantity supplied at the given price. This is also called a shortage.
Detailed explanation-4: -Natural resource abundance refers to the abundance of various natural resources in a country or region, or the amount of natural resources that can be used for economic and social development. Whether regional natural resources are abundant or barren is largely relative to population size.