If the Equilibrium Price of Bread Is R20 and the Government

question 45

Multiple Choice

If the equilibrium price of bread is R20 and the government imposes a R15.00 price ceiling on the price of bread,

• A) more bread will be produced to meet the increased demand.
• B) there will be a shortage of bread.
• C) the demand for bread will decrease because suppliers will reduce their supply.
• D) a surplus of bread will emerge.

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Definitions:

Performance Issues

Problems or difficulties related to the effectiveness or efficiency of an individual's or group's work output.

First Step

The initial action or move in a process or series of actions.

Volatile

Characterizing something that is highly unstable, unpredictable, or prone to rapid changes, often used in the context of chemical substances or financial markets.

Non-supervisory Employees

Workers who do not have managerial or supervisory responsibilities and typically focus on executing tasks rather than managing teams.