When Does a Surplus Occur

question 97

Multiple Choice

When does a surplus occur?  

• A) when current price is greater than equilibrium price 
• B) when quantity supplied exceeds quantity demanded at the equilibrium price 
• C) when quantity demanded is greater than quantity supplied 
• D) when the problem of scarcity of a good is solved

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Definitions:

Case Studies

In-depth investigations of a single person, group, event, or community over time to explore causation in order to find underlying principles.

High Correlation

A statistical measure indicating a strong relationship between two variables, where changes in one variable are closely linked to changes in the second.

Unconscious

Describes the part of the mind that is inaccessible to the conscious mind but that affects behaviors and feelings.

Traits

Enduring characteristics or qualities of an individual's personality that are consistent across different situations.