Which of the Following Will Result at the Equilibrium Price

question 47

Multiple Choice

Which of the following will result at the equilibrium price for gasoline?

• A) Everyone with the desire and the income to buy gasoline at that price can do so.
• B) Shortages will occur.
• C) Quantity demanded exceeds the quantity supplied.
• D) Surpluses are inevitable.

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Definitions:

Pastoral Nomads

Groups of people who move with their livestock seasonally or as needed to access fresh pastures and water, living a migratory lifestyle.

Sahara Desert

A vast desert region in North Africa, recognized as the largest hot desert in the world, characterized by sand dunes, rocky plateaus, and scarce water sources.

Infrastructure

Refers to the fundamental facilities and systems serving a country, city, or area, including transportation and communication systems, power plants, and schools.

Social Structure

The organized pattern of social relationships and social institutions that together compose a society.