When a Shortage of a Good Is Present Due to a Price

question 187

Multiple Choice

When a shortage of a good is present due to a price ceiling,

• A) the amount supplied will be greater than the amount demanded.
• B) the quality of the good will generally improve.
• C) non-price factors, such as discrimination or waiting in line, will play a greater role in the allocation of the good.
• D) the demand for the product will increase and, thereby, eliminate the shortage.

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Definitions:

NFC

Near Field Communication, a short-range wireless technology that enables the exchange of data between devices over about a 4 cm distance, commonly used for contactless payments.

Short-range

Describes communication or transmission technologies designed to work over short distances.

Wireless Network

A method of communication that uses radio waves to connect devices to the internet and to each other without the use of wires.

War Driving

War driving is the act of searching for Wi-Fi wireless networks by a person in a moving vehicle, using a portable computer, smartphone, or personal digital assistant (PDA).