Which of the Following Serves as a Basis for Doomsday

question 56

Multiple Choice

Which of the following serves as a basis for doomsday forecasts?

• A)Crowding out.
• B)The price mechanism.
• C)Resource constraints.

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Definitions:

Excess Demand

A situation in a market where the quantity demanded of a good or service surpasses the quantity supplied at the current price.

Quantity Demanded

Quantity demanded is the total amount of a good or service that consumers are willing and able to purchase at a given price in a specified period.

DVD Players

Electronic devices designed to play discs using the Digital Versatile Disc (DVD) format, often used for movies and other digital content.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price in a market.