There Are Never Shortages or Surpluses When the Price in a Market

question 124

True/False

There are never shortages or surpluses when the price in a market is equal to the equilibrium price for the market.

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Definitions:

Expensive

Describes an item or service that has a high cost or requires a significant amount of money to purchase or maintain.

Time Consuming

Requiring a great deal of time or effort to complete.

Federal Government

The federal government is the national government of a federated state, which holds the authority to govern based on a division of powers between it and the constituent regions or states.

Court Structure

The hierarchical arrangement of courts within a legal system, ranging from lower courts to higher courts, each with specific jurisdictions and responsibilities.