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:

Evolution

Evolution is the process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.

Helping Behaviors

Acts performed with the intention of benefiting or assisting others without necessarily expecting something in return.

Evolutionary Theory

A scientific theory that explains the diversity of life on Earth, proposing that species change over time through processes such as natural selection and genetic drift.

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Brothers or sisters, including those by full blood, half-blood, or through adoption.