An increase in the price of gasoline will Multiple Choice Shift the gasoline supply curve to the right. Shift the gasoline demand curve to the right. Shift the automobile supply curve to the left. Shift the automobile demand curve to the left.

The correct answer is "Shift the automobile demand curve to the left.".

Explanation: An increase in the price of gasoline does not shift the supply and demand curves of gasoline, but changes the quantity demanded and offered in equilibrium along the curves.

On the other hand, it has a collateral effect on the demand for automobiles, because if it produces a shift (decrease) in the automobile demand curve to the left, given the high price of gasoline, people will tend to buy fewer cars.

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1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know