When There Is a Surplus of a Product in a Market

question 74

Multiple Choice

When there is a surplus of a product in a market the:

• A) price will rise.
• B) price must be above the equilibrium price.
• C) producers will expand output and sales will rise.
• D) price must be below the equilibrium price.

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Definitions:

Biracial

A term describing an individual whose ancestry includes two racial backgrounds.

Triracial

Referring to individuals or groups that are descended from three distinct racial backgrounds.

Bonilla-Silva

Eduardo Bonilla-Silva, a sociologist known for his work on racism, color-blind racism, and racial identity.

Racial Hierarchy

A system in which races are ranked and classified above others, leading to unequal treatment and opportunities.