Figure 3.4.1 Use the Figure Below to Answer the Following Questions

question 37

Multiple Choice

Figure 3.4.1
Use the figure below to answer the following questions.

-At price P₃ in Figure 3.4.1,

• A)this market is in equilibrium.
• B)there is a shortage in the amount of Q₅ - Q₁.
• C)there is a tendency for the price to rise.
• D)equilibrium quantity is Q₅.
• E)there is a surplus in the amount of Q₅ - Q₁.

---

Definitions:

Farm Work

Labor and activities related to cultivating land and producing agricultural goods.

Underemployed

Underemployed refers to individuals working less than they would like to, either in terms of hours or in jobs that do not utilize their skills fully, often leading to lower incomes and job satisfaction.

Human Capital

The sum of abilities, insights, and non-physical resources of people which can be employed to produce financial gain for the person, their company, or the community.

Technology Adoption

The process by which individuals and businesses start using new technologies or upgrade to more advanced technological systems.