In a Free Market, If the Price of a Good

question 81

Multiple Choice

In a free market, if the price of a good is below the equilibrium price, then;

• A)government needs to set a higher price.
• B)suppliers, dissatisfied with growing inventories, will raise the price.
• C)demanders, to acquire the good, will bid the price higher.
• D)suppliers, dissatisfied with growing inventories, will lower the price.

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Definitions:

Coconut Oil

A plant-based oil extracted from the meat of coconuts, used in cooking, skincare, and health products, noted for its high saturated fat content.

Mediterranean Diet

A dietary pattern inspired by the traditional eating habits of people from the Mediterranean region, known for its emphasis on fruits, vegetables, whole grains, olive oil, and fish.

Lactose Intolerance

A condition in which the body cannot easily digest lactose, a type of sugar found in milk and dairy products.

Food Allergy

A negative health impact that results consistently from a particular immune reaction when exposed to a certain food.