The World Price of a Commodity Will Settle at the Level

question 191

Multiple Choice

The world price of a commodity will settle at the level where

• A)supply and demand are equal within each country.
• B)the excess demand of the importing country is equal to the excess supply of the exporting country.
• C)the excess demand in the exporting country is equal to the excess demand in the importing country.
• D)there is no excess demand in the exporting country.

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Definitions:

Loyalty

A strong feeling of support or allegiance to a person, group, or cause.

Gender

Socially and culturally constructed roles, behaviors, expressions, and identities that societies consider appropriate for men and women.

Socially Reinforced

Pertains to behaviors that are strengthened or encouraged within a social context, often due to positive feedback or approval from others.

Race

A group of people with a common cultural history, nationality, or geographical location, as well as genetically transmitted physical attributes.