When a Surplus Exists for a Product

question 10

Multiple Choice

When a surplus exists for a product,

• A)Producers increase supply.
• B)Consumers increase demand.
• C)Government purchases decrease.
• D)Producers reduce the level of output and reduce price.

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Definitions:

Entrepreneur

A person who organizes, manages, and assumes the risks of a business or enterprise, often innovating and driving economic growth.

Creativity

The ability to generate new ideas, solutions, or artistic expressions, which can lead to novel and valuable outcomes.

Self-censoring Part

The aspect of oneself or one's actions that is deliberately withheld, hidden, or modified to avoid offending others or causing trouble.

Jazz Players

Musicians specialized in playing jazz, a genre of music characterized by swing and blue notes, complex chords, and call and response vocals.