When There Is a Shortage in the Market, the Quantity

question 280

Multiple Choice

When there is a shortage in the market, the quantity sold is

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

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Definitions:

Longevity

A long duration of life; lasting a long time.

Profit Sharing

A system by which employees receive a share of the profits of a business enterprise.

Pension Plan

A retirement plan that requires an employer to contribute to a pool of funds set aside for an employee's future benefit.

Bereavement Time

Time that an employee can take off when a family member or very close friend dies.