Question on: SS2 Economics - Types of Demand And Supply (With Curves)
Define Resource supply and give one relevant example.
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Resource supply refers to the amount of resources, such as labour, raw materials, and energy, that are available to produce a product. It is represented graphically by the resource supply curve, which is a curve that represents the relationship between the quantity of resources used in production and the quantity supplied. Examples of products with resource supply include food, clothing, and construction materials.
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