If Quantity Supplied Is Greater Than the Quantity Demanded, Then

question 97

Multiple Choice

If quantity supplied is greater than the quantity demanded, then according to the market process:

• A) the shortage exists and the price will increase to the equilibrium level.
• B) the surplus exists and the price will increase to the equilibrium level.
• C) the shortage exists and the price will decrease to the equilibrium level.
• D) the surplus exists and the price will decrease to the equilibrium level.

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Definitions:

Conflict

A situation where two or more parties have opposing ideas, interests, or beliefs, leading to a disagreement.

Managers

Are persons who support the work efforts of other people.

Negotiation

The process of discussing and arriving at a mutual agreement between two or more parties with differing interests.

Primary Goals

The main objectives or aims that an individual, group, or organization seeks to achieve in a given timeframe.