Praxis agriculture 5701 - Study guides, Class notes & Summaries

Praxis Agriculture (5701) Exam Questions and Answers

supply and demand correct answersthe amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. High supply and low demand correct answerslower prices Low supply and high demand correct answershigher prices law of diminishing returns correct answersrefers to a point at which the level of profits or benefits gained is less than the amount of money or energy invested. fixed costs correct answersCosts that do not var...

supply and demand - correct answer the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. High supply and low demand - correct answer lower prices Low supply and high demand - correct answer higher prices law of diminishing returns - correct answer refers to a point at which the level of profits or benefits gained is less than the amount of money or energy invested. fixed costs - correct answer Costs that ...

supply and demand - the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. High supply and low demand - lower prices Low supply and high demand - higher prices law of diminishing returns - refers to a point at which the level of profits or benefits gained is less than the amount of money or energy invested. fixed costs - Costs that do not vary with the quantity of output produced variable costs - costs that var...