182k views
1 vote
Which of the following is the name of the law that says that as a country produces less of one product and more of another, there is an increase in the resources needed to expand production of the second product

1 Answer

3 votes
Hey there!
This is known as the law of increasing costs. I've seen of it as the opposite of "supply and demand", but that's not really what it is.
Just as you said, if the production of a product is booming, and the production of the other product is somewhat failing, then there is going to be more resources required to expand the second product.
I hope this helps!
User JuneT
by
6.9k points