-Which of the Following Situations Could Generate a Shortage

question 290

Multiple Choice

-Which of the following situations could generate a shortage?

• A) Demand for a good increases, resulting in a new higher market clearing price.
• B) Demand for a good decreases, resulting in a new lower market clearing price.
• C) Demand for a good increases, but the price is not permitted to rise.
• D) Demand for a good decreases, but the price is not permitted to fall.

Grasp the importance of timely notice and the implications of failing to provide it in the context of negotiable instruments.

Understand the role of an agent and principal in the context of negotiable instruments and the liability implications.

Recognize the requirements for ratification of unauthorized actions and the impact of such actions on liability.

Understand the effects of alterations and forgeries on the liability of parties to a negotiable instrument.

---

Definitions:

Instinct Theory

A theory that suggests that behaviors are driven by instincts, which are innate patterns of response to stimuli.

Genetically Predisposed

Having a genetic makeup that increases the likelihood of developing certain traits or diseases.

Instinctive Behavior

Actions that are performed without prior learning or thought, typically because they are genetically programmed.

Unlearned

Describes behaviors or responses that are innate and not acquired through learning or experience.