A Shortage Occurs Whenever

question 124

Multiple Choice

A shortage occurs whenever

• A) the quantity supplied is greater than the quantity demanded.
• B) the price is above the equilibrium quantity.
• C) the quantity supplied is less than the quantity demanded.
• D) the government places a binding price floor.
• E) the government places a nonbinding price ceiling.

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Definitions:

Consumer

An individual who purchases goods or services for personal use rather than for manufacturing or resale purposes.

Selling Points

Key features or advantages of a product or service that are highlighted to persuade potential customers to make a purchase.

Online Sales Messages

Communications designed to promote or sell products or services through digital platforms.

Direct-Mail Messages

Targeted written communications sent to individuals through postal or electronic means to promote a product or service.