If an Economist States That Not Enough of a Good

question 53

Multiple Choice

If an economist states that not enough of a good is being produced,she usually means that

• A) not everyone can afford the good.
• B) price exceeds marginal cost.
• C) consumer surplus equals zero.
• D) at equilibrium, some people who still wish to sell the good cannot find a buyer.

---

Definitions:

Structural Risks

Refers to the potential for failure or significant damage to a system, organization, or structure due to inherent weaknesses or flaws.

Operational Risks

The possibility of experiencing a loss due to inefficient or malfunctioning internal procedures, individuals, and systems, or owing to occurrences outside the organization's control.

Vendors Quality

The measure of excellence or state of being free from defects, deficiencies, and significant variations, brought by the strict and consistent adherence to measurable and verifiable standards to meet consumer's satisfaction by the vendor.

Poverty Trap

A situation in which an individual or community remains in poverty because their low income prevents them from investing in opportunities that could increase their wealth.