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:

Recreation

Activities engaged in for enjoyment and relaxation during free time, often providing physical or emotional benefits.

Sociologists

Social scientists who study human societies, their interactions, and the processes that preserve and change them.

Recreation

Activities or experiences engaged in for enjoyment and relaxation.

Leisure

Free time when an individual is not working and can relax, enjoy hobbies, or undertake recreational activities.