A Surplus Currently Exists for Fidget Spinners

question 291

True/False

A surplus currently exists for fidget spinners. In a free-market economic system, the government must step in and buy any spinners that consumers do not buy in order to eliminate the surplus and establish equilibrium.

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Definitions:

Labor Relations

The field concerned with the management of relationships between employers and employees, focusing on the negotiation, application, and administration of work agreements.

Great Depression

A severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States and becoming the longest and most widespread depression of the 20th century.

Unions

Organizations formed by workers to protect their rights, improve their working conditions, and negotiate wages and benefits with employers.

Strike

A work stoppage initiated by employees as a form of protest, often aiming to gain concessions or express grievances regarding work conditions or policies.