In This Chapter, Media Is Defined as

question 6

Multiple Choice

In this chapter, media is defined as

• A) type of communication.
• B) a type of ink.
• C) data storage devices.
• D) A and C

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Definitions:

Surplus

An economic situation where the quantity of goods supplied is greater than the quantity demanded.

Shortage

A situation in an economy where the demand for a product or service exceeds the supply available at a specific price.

Equilibrium Price

The financial value where the availability of goods equals consumer demand.

Demand Falls

Demand falls occur when there is a decrease in the quantity of a good or service demanded at any given price, often due to changes in consumer preferences, income, or price increases.