If the Quantity Demanded for a Product Exceeds the Quantity

question 127

Multiple Choice

If the quantity demanded for a product exceeds the quantity supplied,the market price will rise until

• A)the quantity demanded equals the quantity supplied.The product will then no longer be scarce.
• B)quantity demanded equals quantity supplied.The equilibrium price will then be greater than the market price.
• C)only wealthy consumers will be able to afford the product.
• D)quantity demanded equals quantity supplied.The market price will then equal the equilibrium price.

---

Definitions:

Devaluing Free Labor

The process by which the economic and social value of work done voluntarily or without wage compensation is diminished.

Cotton Boom

A period of rapid expansion in the cotton industry marked by increased production in the southern United States, largely fueled by slave labor, in the 19th century.

Distribution Of Wealth

Describes how wealth is shared or spread across a society, often highlighting disparities between different groups or individuals.

Democratic Society

A society in which the principles of democracy, such as voting rights, freedom of expression, and equality before the law, are practiced and upheld.