What Occurs When the Quantity Demanded Exceeds the Quantity Supplied

question 11

Multiple Choice

What occurs when the quantity demanded exceeds the quantity supplied?

• A) Demand deficit
• B) Surplus
• C) Equilibrium point
• D) Shortage
• E) Supply schedule

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Definitions:

Desired Output

The intended result or effect that a system or process aims to achieve.

Closed-Loop Control System

A control system where the output influences the input through a feedback loop, aiming for stable and accurate control.

Modbus

A network that uses a master/slave communication technique.

Fieldbus

An open, all-digital, serial, two-way communications system that interconnects measurement and control equipment such as sensors, actuators, and controllers.