When Consumers Are Willing to Buy More Than Producers Are

question 22

Multiple Choice

When consumers are willing to buy more than producers are willing to sell,

• A) there is excess supply of the product in the market.
• B) there is excess demand for the product in the market.
• C) the market is in equilibrium.
• D) the demand curve will shift until the quantity supplied equals the quantity demanded.

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Definitions:

Economic Essence

The core or fundamental aspect of an economy, typically referring to its main drivers such as industry, services, or technologies that determine economic health.

Political Agenda

A set of priorities or objectives set by politicians or political parties, often outlining proposed policies and goals.

Reconstruction

The period after the American Civil War when the southern states were reintegrated into the Union and efforts were made to extend civil rights to freed slaves.