When There Is a Surplus in a Market

question 168

Multiple Choice

When there is a surplus in a market:

• A) there is downward pressure on price
• B) there is upward pressure on price
• C) the market could still be in equilibrium
• D) there are too many buyers chasing too few goods

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Definitions:

Operant Behavior

A type of behavior that is controlled by the consequences that follow it, such as rewards or punishments.

Reinforcement

In behaviorism, any event that strengthens or increases the likelihood of a behavior by providing a consequence an individual finds rewarding.

Flavor Aversion

The learned avoidance of a particular taste or food after it has been associated with illness or discomfort.

Humans

The species Homo sapiens, characterized by its use of language, complex social structures, and sophisticated tool use and technology.