If a Market Has a Surplus, How Will the Market

question 255

Multiple Choice

If a market has a surplus, how will the market respond?

• A) The price will fall and the quantity supplied will fall.
• B) The price will fall and the quantity supplied will rise.
• C) The price will rise and the quantity supplied will fall.
• D) The price will rise and the quantity supplied will rise.

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Definitions:

Coordination

The organization of the different elements of a complex body or activity so as to enable them to work together effectively.

Material Resources

Tangible assets or physical goods that are needed for the production of services or goods, including machinery, buildings, and raw materials.

Human Resources

refers to the department within an organization that deals with the management, support, training, and development of its employees.

Organization

A structured group of individuals working together to achieve common goals or objectives, often characterized by a set hierarchy or operating system.