Suppose Purchases Do Not Occur Because the Value of the Good

question 221

Multiple Choice

Suppose purchases do not occur because the value of the good to the potential seller exceeds the value to a potential consumer.This situation will occur in:

• A)a market dominated by government regulation.
• B)well-functioning markets.
• C)a market made up of many buyers and sellers.
• D)a centralized market system.

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Definitions:

Acid

Molecule that is a proton donor; any substance that releases hydrogen ions (H+).

Solutes

Substances dissolved in a liquid (solvent) to form a solution, such as salts in water.

Solvents

Substances, typically liquids, that can dissolve other substances to form a solution.

Catalysts

Substances that speed up chemical reactions without being consumed in the process.