A Market Surplus Occurs If the Quantity

question 97

Multiple Choice

A market surplus occurs if the quantity:

• A) demanded is greater than the quantity supplied.
• B) demanded is less than the quantity supplied.
• C) demanded is equal to the quantity supplied.
• D) supplied is less than the quantity demanded.

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Definitions:

Sensory Memory

The briefest element of memory that enables the preservation of sensory information impressions even after the initial stimuli are no longer present.

Vision And Hearing

are sensory processes that involve the perception of sight and sound, respectively, playing critical roles in human communication and interaction.

Iconic Memory

Iconic memory is the visual sensory memory register pertaining to the visual domain and a fast-decaying store of visual information.

Echoic Memory

A component of sensory memory that specifically stores auditory information, allowing sounds and words to be recalled within a few seconds after the sound is heard.