Another Name for a Surplus Is

question 399

Multiple Choice

Another name for a surplus is

• A) excess quantity supplied.
• B) excess quantity demanded.
• C) equilibrium.
• D) market clearing.

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Definitions:

Gasoline

A combustible fluid obtained from petroleum, mainly utilized as a fuel for internal combustion engines.

Supply Decrease

A reduction in the quantity of a good that producers are willing or able to sell, often due to factors such as increased production costs, taxation, or supply chain disruptions.

Excess Supply

A situation in a market where the quantity of a good or service available exceeds the quantity demanded at the current price, leading to surplus.

Scarcity

A basic issue in economics where human desires appear unlimited, but the world has finite resources.