If There Is Surplus of a Good, Then the Quantity

question 462

Multiple Choice

If there is surplus of a good, then the quantity demanded ________ the quantity supplied and the price will ________.

• A) is less than; rise
• B) is less than; fall
• C) is greater than; rise
• D) is greater than; fall

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Definitions:

Chart

A visual representation of data designed to make complex information easily understandable through graphs, pie charts, histograms, etc.

Change Colors

The process of altering the hues or shades of elements in a digital document, image, or interface to achieve a desired visual effect.

Combine Command

In computer software, the Combine Command is used to merge two or more sets of data or text into a single entity.

Compare

To compare means to analyze two or more objects, ideas, or data points to identify their similarities and differences.