One characteristic that has allowed the U.S.economy to change the mix of output in response to consumer demand is the
A)Factor mobility which is the increased ease with which resources move from one industry to another.
B)Abundance of scarce resources.
C)Large number of proprietorships.
D)Labor-intensive production process.

Question

Quizplus · Accepted Answer

Factor mobility allows resources to move from one industry to another in response to changes in demand, resulting in a more efficient allocation of resources and the ability to change the mix of output to meet consumer demand. The abundance of scarce resources, large number of proprietorships, and labor-intensive production process do not necessarily contribute to the ability to change the mix of output in response to consumer demand.

One Characteristic That Has Allowed the U