When Quantity Demanded of a Good Is Less Than the Quantity

question 21

Multiple Choice

When quantity demanded of a good is less than the quantity supplied at the prevailing market price,

• A)the market is in equilibrium
• B)the price of the good tends to rise
• C)the price of the good tends to fall
• D)the demand curve shifts rightward until the surplus is eliminated
• E)the supply curve shifts leftward until the shortage is eliminated

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Definitions:

Self-Actualization

A psychological concept referring to an individual's pursuit and realization of their own potential, talents, and desires.

Unconditional Regard

A concept in psychology that involves showing complete support and acceptance of a person regardless of what they say or do, particularly in a therapeutic context.

Mindfulness

The quality or practice of being consciously aware of one's thoughts, feelings, and environment in the present moment, often as a meditative practice.

Meditation

A practice where an individual uses a technique, such as mindfulness or focusing the mind on a particular object, thought, or activity, to achieve a mentally clear and emotionally calm state.