A Shortage Will Occur at Any Price Below Equilibrium Price

question 146

True/False

A shortage will occur at any price below equilibrium price and a surplus will occur at any price above equilibrium price.

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Definitions:

Enabling

Providing the means or opportunity for someone to achieve something or to facilitate a process.

Resistance to Cultural Change

The reluctance or opposition faced when attempting to alter the established norms, values, and behaviors within a group or organization.

Cultural Change

The transformation of the culture of a society or organization, including its values, norms, and behaviors.

Socialization Processes

The methods through which individuals learn and adopt the norms, values, and behaviors that are necessary for functioning within a society or a specific group.