If a Market Reflects a Shortage and Prices Are Allowed

question 130

Multiple Choice

If a market reflects a shortage and prices are allowed to move:

• A) supply will increase.
• B) demand will decrease.
• C) price will decrease.
• D) price will increase.

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Definitions:

Measured

Quantitatively determined, assessed, or quantified through observation or instrumentation.

Emotion

A complex psychological state that involves a subjective experience, a physiological response, and a behavioral or expressive response.

Predicted

In the context of research, predicted refers to the expected outcomes or behaviors based on established theories or models prior to conducting an experiment or observational study.

Biological Basis

The underlying physiological and genetic factors that contribute to an individual's characteristics, behaviors, or conditions.