A shortage means that the quantity demanded is greater than the quantity supplied at the prevailing ...

A shortage means that the quantity demanded is greater than the quantity supplied at the prevailing price.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 2

A surplus means that the quantity supplied is greater than the quantity demanded at the prevailing price.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 3

Suppose the market price of a good X is below the equilibrium price. The result is a shortage and sellers can be expected to decrease the quantity of that good X supplied.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 4

In economics, the term surplus means an excess quantity supplied.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 5

Surpluses cause prices to fall while shortages cause prices to rise.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 6

Surpluses cause prices to rise while shortages cause prices to fall.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 7

A surplus in a market exists when there is an excess quantity demanded.
a. True
b. False
Indicate whether the statement is true or false

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.

A shortage means that the quantity demanded is greater than the quantity supplied at the prevailing ...

Related Topics