A Shortage Will Exist If

question 8

Multiple Choice

A shortage will exist if

• A)the price is above the equilibrium price.
• B)the price is below the equilibrium price.
• C)there are not enough producers.
• D)there are not enough consumers.
• E)demand decreases.

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Definitions:

Idea

A thought or suggestion as to a possible course of action, concept, or mental impression.

Objective

A specific result that a person or system aims to achieve within a time frame and with available resources.

Goal

A desired result or achievement toward which effort is directed; an aim or end.

Core Benefit Proposition

The fundamental value or advantage that a consumer receives from a product or service, serving as the primary reason for making a purchase.