In Competitive Markets a Surplus or Shortage Will

question 51

Multiple Choice

In competitive markets a surplus or shortage will:

• A)never exist.
• B)cause buyer and seller reactions which tend to eliminate the surplus or shortage.
• C)cause shifts in the demand and supply curves.
• D)cause buyer and seller reactions which tend to intensify the surplus or shortage.

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Definitions:

Startup

A company in the early stages of operations, typically characterized by high uncertainty and risk, but with the potential for significant growth and financial success.

Startups

Startups are newly established businesses, typically in the technology sector, focused on a unique product or service aiming to meet a gap in the market, often characterized by innovation and scalability.

Competition

The contest between businesses or individuals for market share, resources, awards, or recognition in their respective fields or areas of activity.

Vivid Vision

A detailed description of what a business or organization aspires to achieve in the future, intended to inspire and guide stakeholders.