A Shortage of Wheat

question 83

Multiple Choice

A shortage of wheat:

• A)is impossible if people are hungry.
• B)is impossible if the price of wheat is higher than the market equilibrium.
• C)will result when the quantity supplied exceeds the quantity demanded at the current price.
• D)is unlikely to cause any change in the price of wheat.
• E)indicates that the problem of scarcity of wheat has been solved.

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Definitions:

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The structured and systematic way in which authority and control are exercised in societies or organizations.

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