In a Competitive Market, If There Should Be a Surplus

question 25

Multiple Choice

In a competitive market, if there should be a surplus of a product at a given price:

• A) sellers will drive the price down.
• B) sellers will drive the price up.
• C) buyers will drive the price up.
• D) the price will tend to remain constant.

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Definitions:

Internet Gaming Disorder

A condition recognized by various healthcare organizations, characterized by excessive and compulsive engagement in video games, leading to significant impairment or distress.

DSM

Short for Diagnostic and Statistical Manual of Mental Disorders, it is a handbook used by healthcare professionals as the authoritative guide to diagnose mental disorders.

Cigarette Smoking

The act of inhaling and exhaling the smoke of burning tobacco encased in cigarettes, often leading to addiction and health risks.

Gambling Disorder

A behavioral addiction characterized by a continuous or periodic loss of control over gambling, preoccupation with gambling and money with which to gamble, irrational thinking, and a continuation of the behavior despite adverse consequences.