- o supply, demand, surplus, shortage, scarcity, factors of production/productive resources, natural resources, human resources/labor, capital resources 8. Once the students have finished, review the answers as a whole class and discuss any issues or questions that may have arisen.
- 1 Answer to Excercises Ch 4 1.1( Shifting Demand ) Using demand and supply curves, show the effect of each of the following on the market for cigarettes: a.A cure for lung cancer is found. b.The price of cigars increases. c.Wages increase substantially in states that grow tobacco. d.A fertilizer that...
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