In Response to a Surplus the Market Price of a Good

question 14

True/False

In response to a surplus the market price of a good will fall; as the price falls, the quantity demanded will increase and quantity supplied will decrease until equilibrium is reached.

---

Definitions:

Lakes

Large bodies of water surrounded by land, freshwater or sometimes saline, that are inland and not part of the ocean.

Rivers

Large natural streams of water flowing in channels to the sea, a lake, or another river.

Nonbiological Reservoirs

Natural or artificial environments that do not involve living organisms, which can store various substances or elements.

Biogeochemical Cycles

Natural pathways by which essential elements or compounds move through the biosphere, lithosphere, atmosphere, and hydrosphere.