-What Will a Surplus of a Product Lead To

question 67

Multiple Choice

-What will a surplus of a product lead to?

• A)A reduction in supply.
• B)A reduction in price.
• C)An increase in price.
• D)An increase in supply.

---

Definitions:

Egocentrism

A cognitive bias where an individual is unable to understand or assume any perspective other than their own.

Peer Group

A social group whose members have interests, social position, and age in common.

Generation

A group of individuals, most often classified by their birth years, who experience similar cultural, social, and economic conditions at roughly the same stage in life.

Socialized

Refers to the process through which individuals learn the values, norms, and required behaviors of their society or group.