When Does a Shortage Occur

question 88

Multiple Choice

When does a shortage occur?  

• A) whenever quantity demanded exceeds quantity supplied at the equilibrium price 
• B) whenever price is less than equilibrium price 
• C) whenever quantity demanded is less than quantity supplied 
• D) whenever some of the people who need the product are unwilling and unable to buy it at the equilibrium price

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Definitions:

Cultural Variables

Elements that vary from one culture to another, influencing behavior, traditions, and perceptions.

Depersonalization

A mental state where individuals feel detached from their body or self, often described as feeling like an outsider observing one's life.

Evolved Predispositions

refers to inherent tendencies or traits that have developed over time through evolutionary processes to enhance survival and reproductive success.

David Buss

An evolutionary psychologist known for his research on human sex differences in mate selection.