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:

Supplier Performance

The assessment of a supplier's ability to meet buyer expectations, including factors such as product quality, delivery time, and compliance with terms.

Rapid Response

The ability to react quickly and effectively to unexpected situations or changes, often crucial in emergency or customer service scenarios.

On-Time Delivery

The process of delivering goods or services to customers at the promised or scheduled time without delays.

Supply Chain Management

The administration of the flow of goods and services, involving the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.