Which of the Following Means That Your Expenses Exceed Your

question 24

Multiple Choice

Which of the following means that your expenses exceed your income?

• A) Surplus.
• B) Deficit.
• C) Net worth.
• D) Asset.

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Definitions:

Say's Law

Say's Law, also known as the law of markets, is an economic principle which suggests that production creates its own demand, positing that a supply of goods will ultimately lead to the creation of an equivalent demand.

Demand Prices

Prices of goods and services determined by the demand for them, often influenced by consumers' willingness and ability to pay.

Supply Prices

The costs associated with producing goods and services, which can influence the supply levels offered by producers.

Aggregate Supply Curve

A graphical representation showing the total quantity of goods and services that producers in an economy are willing and able to supply at different price levels.