The demand for a resource will increase if the
A)price of the resource decreases.
B)supply of the resource decreases.
C)price of the product requiring this resource increases.
D)price of the product requiring this resource decreases.

Question

Quizplus · Accepted Answer

The demand for a resource will increase if the price of the product requiring this resource increases because the higher product price can lead to increased production, thereby increasing the demand for the resources needed to produce it.

The Demand for a Resource Will Increase If the