Excess Supply Will Exist When

question 84

Multiple Choice

Excess supply will exist when:

• A) market price is greater than the equilibrium price.
• B) market price is less than the equilibrium price.
• C) market price is equal to the equilibrium price.
• D) quantity demanded is greater than quantity supplied.

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Definitions:

Hominins

refers to members of the human lineage after the split from the common ancestor with chimpanzees, including modern humans and extinct human species.

Ardipithecus

A genus of early hominids whose fossils provide insight into human evolution. It includes species such as Ardipithecus ramidus, which lived approximately 4.4 million years ago.

Human Family Tree

A diagrammatic representation showing the evolutionary relationships and lineage of human species from ancestral forms.

Neandertals

See Homo neanderthalensis.