If the Supply of a Good Decreased, What Would Be

question 167

Multiple Choice

If the supply of a good decreased, what would be the effect on the equilibrium price and quantity?

• A) Price would increase, and quantity would decrease.
• B) Price would decrease, and quantity would decrease.
• C) Price would increase, and quantity would increase.
• D) Price would decrease, and quantity would increase.

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Definitions:

Inattention

The lack of focus or paying attention, often evident in various contexts such as learning environments, leading to difficulties in completing tasks.

Impulsiveness

A tendency to act on urges and desires without considering the long-term consequences, often leading to hasty or risky decisions.

Obesity

A medical condition involving excess body fat that increases the risk of health problems.

Middle Childhood

A developmental stage that generally covers children from about 6 to 12 years old, characterized by significant cognitive, emotional, and social growth.