If There Is a Surplus of a Good,the Quantity Demanded

question 169

Multiple Choice

If there is a surplus of a good,the quantity demanded is ________ the quantity supplied,and the price will ________.

• A) less than; rise
• B) less than; fall
• C) greater than; rise
• D) greater than; fall
• E) equal to; fall

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Definitions:

Marketing Variables

Are factors that can be controlled by a company to influence consumers' purchase decisions.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, traditionally categorized into the four Ps: Product, Price, Place, and Promotion.

Product Platform

A set of common design, components, and technologies used as a base upon which a series of products can be developed.

Secondary Data

Information that has been collected previously by someone else for a different purpose but is being utilized for a new analysis.