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

question 282

Multiple Choice

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

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

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Definitions:

Legal Precedent

A legal case that establishes a principle or rule that courts may follow when deciding subsequent cases with similar issues or facts.

Duty of Care

A legal obligation to avoid conduct that could foreseeably harm others, often associated with negligence.

Legal Issue

A legal issue is a problem or dispute that involves matters governed by law, requiring the application of legal principles to resolve.

Discovery

The pre-trial phase in a lawsuit where each party investigates the facts of a case, by obtaining evidence from the opposing party and others.