​A Surplus in a Market Exists When There Is an Excess

question 114

True/False

​A surplus in a market exists when there is an excess quantity demanded.

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Definitions:

Comparative Purposes

For purposes of comparison, often to analyze differences or similarities between two or more items or situations.

External Data

Information that originates outside the organization and is used for analysis or decision making.

Economic Analyses

The systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints.

Numerical Values

Quantitative data represented by numbers.