When There Is an Excess Demand of a Product in an Unregulated

question 241

Multiple Choice

When there is an excess demand of a product in an unregulated market, the tendency is for

• A) price to rise.
• B) price to decrease.
• C) quantity supplied to decrease.
• D) quantity demanded to increase.

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Definitions:

Variable Cost

Variable expenditures linked to a business's performance, including the price of materials essential for creating products.

Organizational Productivity

The measure of how efficiently and effectively a company or organization converts its resources into goods and services.

Job Performance

The extent to which an employee successfully fulfills the duties, tasks, and responsibilities of their job role.

Job Satisfaction

A measure of how much an individual likes their job, which encompasses various factors such as nature of the work, compensation, work environment, and colleagues.