If There Is a Shortage in a Free Market, Then

question 328

Multiple Choice

If there is a shortage in a free market, then

• A) consumers will offer to pay a lower price for the good, and the price will fall toward the equilibrium level.
• B) consumers will offer to pay a higher price for the good, and the price will rise toward the equilibrium level.
• C) suppliers will decrease their output to match demand.
• D) suppliers will accept any price below equilibrium.

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Definitions:

Vascular Changes

Alterations in blood vessels that can affect blood flow and are linked to various diseases or aging.

Diabetic Complications

Health problems that can occur as a result of diabetes, including issues with the heart, kidneys, eyes, and nerves, often exacerbated by poor management of the condition.

Foot Care

The practice of maintaining the health of the feet through cleanliness, inspection, treatment of disorders, and proper footwear.

Commercial Product

Any good or service that is developed and produced for sale to the general consumer market.