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:

Downward Comparison

A comparison of oneself with those who are worse off.

Upward Comparison

A comparison of oneself with those who are better off.

Abstract

A brief summary of a research paper, article, thesis, or any in-depth analysis, outlining the key points and findings.

Concrete

Refers to objects or concepts that are tangible and can be perceived directly through the senses, as opposed to abstract ideas which are theoretical and not physically existent.