What Is the Term Used to Describe a Market Condition

question 25

Multiple Choice

What is the term used to describe a market condition where buyers are able to satisfy the demand of the consumer,yet have some product remain unsold?

• A) Surplus
• B) Stoppage
• C) Shortage
• D) Demand deficit
• E) Equilibrium price

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Definitions:

Power

The ability or capacity to influence or control the behavior of others, often based on a variety of potential sources like authority, knowledge, or networks.

Authority

The legitimized power or right to make decisions, direct others, and expect compliance within a specific realm.

Responsibility

An obligation or duty to perform or complete a task or role, usually with accountability for the outcome.

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.