Match the Description to the Function It Describes

question 172

Multiple Choice

Match the description to the function it describes.
-transformative capacity

• A)cities as sites of organizing resources, producing and distributing finished products
• B)cities as sites of innovation, knowledge and information
• C)sites of social change and alternatives to tradition
• D)cities as concentrations of political and economic power

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Definitions:

Surplus

A situation where the quantity of a good or service supplied exceeds the quantity demanded, often resulting in excess stock and potential price reductions.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, intending to protect consumers from excessive prices.

Price Floor

A price floor is a government- or authority-imposed minimum price set above the equilibrium price, preventing the market price from falling below it.

Shortage

A situation where demand for a product or service exceeds its supply in a market.