If the Quantity Demanded for a Product Exceeds the Quantity

question 127

Multiple Choice

If the quantity demanded for a product exceeds the quantity supplied,the market price will rise until

• A)the quantity demanded equals the quantity supplied.The product will then no longer be scarce.
• B)quantity demanded equals quantity supplied.The equilibrium price will then be greater than the market price.
• C)only wealthy consumers will be able to afford the product.
• D)quantity demanded equals quantity supplied.The market price will then equal the equilibrium price.

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Definitions:

Need Activation

The process by which a specific need becomes prominent and motivates behavior to fulfill it.

Agreeableness Trait

One of the major personality dimensions, characterized by attributes such as trust, altruism, kindness, affection, and other prosocial behaviors.

Helpful

Providing assistance or support to others, contributing positively to their needs or challenges.

Interacting

The process by which two or more individuals influence each other’s behavior through verbal or non-verbal communication.