When There Is a Surplus in the Market, the Quantity

question 326

Multiple Choice

When there is a surplus in the market, the quantity sold is

• A) equal to the quantity supplied.
• B) equal to the quantity demanded.
• C) less than the quantity demanded.
• D) greater than the quantity bought.

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Definitions:

Quid Pro Quo

A Latin term meaning an exchange of goods or services, where one transfer is contingent upon the other.

Hostile Environment

An unwelcoming or unpleasant atmosphere, especially in the workplace, which may involve harassment or discrimination.

Hedonist

A person who believes that the pursuit of pleasure or happiness is the most important goal in life.

Might-Equals-Right

A belief or principle that power and strength justify moral superiority or rightful authority.