A Market Shortage Occurs If the Quantity

question 90

Multiple Choice

A market shortage occurs if the quantity:

• A) demanded is greater than the quantity supplied.
• B) demanded is less than the quantity supplied.
• C) demanded is equal to the quantity supplied.
• D) supplied is greater than the quantity demanded.

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Definitions:

Brand or Equal

Specification term indicating that a product of a specific brand name or one of equal quality or performance can be supplied.

Equality

The state or condition of being equal, especially in status, rights, or opportunities, promoting fairness and non-discrimination.

Environmental Implications

The impact or consequences of actions or decisions on the natural environment, including aspects related to sustainability, pollution, and resource depletion.

Transportation Implications

The potential effects and consequences transportation decisions and policies may have on the economy, environment, and society.