In General,being Single Offers the Potential Advantage of _________ but the Potential

question 18

Multiple Choice

In general,being single offers the potential advantage of _________ but the potential disadvantage of _________.

• A) shared expenses; less income.
• B) self-reliance; lack of intimacy.
• C) emotional distance; lack of involvement.
• D) shared experiences; lack of self-knowledge.

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Definitions:

Surplus

The situation in which the quantity supplied of a good exceeds the quantity demanded at a given price.

Quantity Demanded

The overall quantity of a product or service that buyers are ready to buy at a specific price.

Quantity Supplied

How much of a product or service that sellers are willing and able to transact at a given price level.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded; it is the price that clears the market.