-What Happens as the Result of a Surplus

question 297

Multiple Choice

-What happens as the result of a surplus?

• A) There is downward pressure on prices.
• B) There is upward pressure on prices.
• C) Consumers begin to view the good as an inferior good because it is too commonplace.
• D) Demand for the good increases.

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Definitions:

Psychological Research

The systematic investigation of mental processes and behavior through observation, experimentation, and analysis.

Scientific Research

The systematic pursuit of knowledge involving the recognition and formulation of a problem, the collection of data through observation and experiment, and the formulation and testing of hypotheses.

Canadian Psychological Association (CPA)

The national association for the science, practice, and education of psychology in Canada, promoting psychology as a discipline and profession.

Ethical Principles

The fundamental guidelines that dictate behavior, determining what is right and wrong in various contexts, such as in professional and personal settings.