If a Surplus Exists in a Market, Then We Know

question 229

Multiple Choice

If a surplus exists in a market, then we know that the actual price is

• A)above the equilibrium price, and quantity supplied is greater than quantity demanded.
• B)above the equilibrium price, and quantity demanded is greater than quantity supplied.
• C)below the equilibrium price, and quantity demanded is greater than quantity supplied.
• D)below the equilibrium price, and quantity supplied is greater than quantity demanded.

Learn the importance of credible source material in supporting arguments.

Understand the socio-economic roles and experiences of indentured servants in the Chesapeake during the seventeenth century.

Comprehend the reasons behind the instability of the seventeenth-century Chesapeake and its political structure.

Identify the religious beliefs and tensions within Puritan communities and their impact on societal behaviors.

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Definitions:

Great Awakening

A series of religious revivals in the American colonies during the 18th century, emphasizing emotional involvement in religious matters.

James Oglethorpe

A British general, member of parliament, philanthropist, and founder of the colony of Georgia in the 18th century, known for his progressive views on prison reform and establishment of a free colony.

Enlightenment Ideals

A set of 18th-century philosophical principles emphasizing reason, individualism, and skepticism towards traditional societal structures.

Benjamin Franklin

One of the Founding Fathers of the United States, known for his contributions as an inventor, writer, statesman, and diplomat.