​ When the Price of a Good in a Market

question 222

Multiple Choice

​ When the price of a good in a market is above equilibrium:

• A) ​the quantity supplied exceeds the quantity demanded.
• B) ​ a surplus is observed.
• C) ​ the price will fall in the near future.
• D) ​ all of the above.

---

Definitions:

Perfect

To complete or make flawless; in legal terms, it often refers to making a claim or security interest legally valid or enforceable.

Insuring

The act of providing or arranging insurance as protection against a possible eventuality.

Collateral

An asset that a borrower offers to a lender as security for a loan, which can be seized if the borrower fails to repay the loan.

Financing Statement

A document filed to give public notice that a creditor has a security interest in the property of a debtor, often used in secured transactions.