When There Is a Surplus of a Product in a Market

question 74

Multiple Choice

When there is a surplus of a product in a market the:

• A) price will rise.
• B) price must be above the equilibrium price.
• C) producers will expand output and sales will rise.
• D) price must be below the equilibrium price.

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Definitions:

Organization

The arrangement or structuring of elements in a coherent or systematic way, often referring to entities like businesses or groups that are united in a collective goal.

Prefer

To favor or choose one thing over others due to better satisfaction, efficiency, or any other personal criterion.

Create

The act of bringing something into existence that did not exist before, through imagination, innovation, or skill.

Job

A paid position of regular employment, often entailing specific duties, responsibilities, and hours of work.