If the Quantity of Textbooks Supplied Is 10,000 Per Year

question 114

Multiple Choice

If the quantity of textbooks supplied is 10,000 per year and the quantity of textbooks demanded is 12,000 per year, there is a _______ in the market and the price will _______.

• A) surplus; rise
• B) shortage; fall
• C) shortage; rise
• D) surplus; fall

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Definitions:

Money Management

The practice of budgeting, saving, investing, spending, or otherwise overseeing the capital usage of an individual or group.

Dual-income Families

Households in which both partners earn an income, typically through employment outside the home.

Personal Brand

The unique combination of skills, experiences, and personality that you want the world to see you as; it represents the image or impression that you can offer to others.

New Economy

A term referring to the shift from traditional industry that the Industrial Revolution brought through, to an economy based on information computerization.