If the Demand for a Product Increases and the Supply

question 62

True/False

If the demand for a product increases and the supply of the same product increases, the equilibrium price will increase.

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Definitions:

Risk Distribution

The practice of spreading financial risk across various parties, investments, or financial instruments to reduce the impact of any one failure.

Age Misrepresentation

The act of deliberately falsifying one's age, usually for the purpose of gaining access to certain privileges or avoiding restrictions.

Insurance Application

The form or process through which a potential insured provides information for an insurance company to evaluate and decide on providing coverage.

Beneficiary Payment

A payment made to a person or entity designated to receive benefits from a contract, such as insurance policy or a will.