When Quantity Demanded Exceeds Quantity Supplied at the Current Market

question 240

True/False

When quantity demanded exceeds quantity supplied at the current market price, the market has a shortage, and market price will likely rise in the future to eliminate the shortage.

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Definitions:

Teratogens

Agents or factors that can cause developmental malformations or birth defects in an embryo or fetus when exposed during pregnancy.

Mutagens

Agents, such as chemicals or radiation, that can cause mutations by altering the DNA sequence within genes.

Carcinogens

Substances or exposures that are known to cause cancer or significantly increase the risk of developing cancer.

Preventable Hazard

A risk or danger to health and safety that can be minimized or eliminated through proactive measures, planning, and awareness.