When Quantity Demanded Exceeds Quantity Supplied

question 47

Multiple Choice

When quantity demanded exceeds quantity supplied:

• A) there exists a surplus of a good.
• B) the price tends to fall.
• C) the price is below the equilibrium price.
• D) there is no excess demand.

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Definitions:

Willingness

The state of being prepared to do something; readiness or inclination to engage in an activity or process.

Behaviors

Observations of individual actions and responses, often studied in psychology to understand and predict human interactions.

Values

Core principles or beliefs that guide behavior and decision-making.

Individuals

Separate persons considered separately from a group or collectively.