Avoiding a Situation When Other Forms of Coping Are Not

question 38

Multiple Choice

Avoiding a situation when other forms of coping are not practical is known as ________.

• A) withdrawal
• B) confrontation
• C) compromise
• D) intellectualization

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Definitions:

Demand Equation

A mathematical representation of the relationship between the quantity of a good consumers are willing and able to buy and the good's price.

Supply Equation

An economic formula that represents the relationship between the quantity of a good supplied by producers and the price of the good.

Price Floor

A minimum price set by the government for certain goods and services, intended to prevent prices from dropping too low.

Shortage/Surplus

A situation in the market where the amount of a product that consumers want to buy is greater than the amount available (resulting in a shortage), or the available amount is more than what consumers want to purchase (leading to a surplus).