Currently, 100,000 Units of a Good Are Traded on a Market

question 42

Multiple Choice

Currently, 100,000 units of a good are traded on a market. The government imposes a limit of a maximum of 50,000 units that may be traded on the market. This will:

• A)create excess supply.
• B)create excess demand.
• C)raise price.
• D)have no effect on the market.

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Definitions:

Cephalization

The evolution of a head; the concentration of nervous tissue and sense organs at the front end of the animal.

Natural Selection

The process by which organisms that are better adapted to their environment survive and reproduce more successfully than less well-adapted organisms.

Noogenesis

The process of mental or intellectual generation, encompassing creativity, cognition, and conscious thought.

Ecdysozoa Clade

A group of protostome animals, including arthropods and nematodes, characterized by periodic molting of their exoskeleton.