What Happens If There Is a Shortage of a Good

question 77

Multiple Choice

What happens if there is a shortage of a good at the current price?

• A) Sellers are producing more than buyers wish to buy.
• B) The market must be in equilibrium.
• C) The price is below the equilibrium price.
• D) Quantity demanded equals quantity supplied.

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Definitions:

Incentive Pay

A form of compensation designed to reward employees for achieving specific performance targets, thereby motivating them to increase productivity.

Performance Measures

Metrics or indicators used to assess the efficiency, effectiveness, or outcomes of an activity, process, team, or organization.

Long-Term Goals

Objectives or targets that an individual or organization aims to achieve over an extended period, typically requiring considerable planning and effort.