Which of the following alternatives corresponds to what is explained in the text above? I. Explain that demand has increased more than supply has decreased for the period studied. II. The equilibrium price and quantity traded increased for the period studied. III. Demand increased by a greater magnitude than the increase in supply for the period studied. Select one: a. I and III b. I and II c. I, II and III d. III only e. Only I
In the last 20 years, the copper market has undergone major changes. On the one hand, there have been important technological improvements aimed at increasing process productivity and, on the other hand, there has been a strong increase in
I. Explain that demand has increased more than supply has decreased for the period studied.
II. The
III. Demand increased by a greater magnitude than the increase in supply for the period studied.
Select one:
a. I and III
b. I and II
c. I, II and III
d. III only
e. Only I
Note: indicate in case your option is not among alternatives
Technological improvement is improvement in the efficiency of the production system that means producers are producing goods by using less amount of inputs. Now we come to the term productivity. Productivity actually leads the production of goods and services. Now both of them are related. If technological improvements are there then production increases as well as demand also increases because the cost of production is low that price is lower than other products.
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