Shortages and Surpluses Can Occur in Markets Other Than Those

question 36

Multiple Choice

Shortages and surpluses can occur in markets other than those in which government imposes the price floors and ceilings.This phenomenon could be explained by the action of seller(s) :

• A)because they set the prices in advance of sales and these prices happen to be below the equilibrium prices.
• B)because they set the prices in advance of sales and these prices happen to be above the equilibrium prices.
• C)because they do not set the prices in advance.
• D)because they set the prices in advance of sales and these prices happen to be below or above equilibrium prices.

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Definitions:

Egalitarian

A principle that emphasizes equal rights, opportunities, and treatment for all individuals within a society.

Sensitivity

The quality of being responsive or susceptible to external conditions or stimuli.

Gender Awareness

The understanding and recognition of gender roles, identities, and expressions, including the societal norms and expectations associated with them.

Concrete External Traits

Concrete external traits refer to observable and measurable physical characteristics or behaviors of individuals.