If a Market Is in Disequilibrium,economists Would Predict That the Product's

question 108

Multiple Choice

If a market is in disequilibrium,economists would predict that the product's price would __________ to reach equilibrium when the quantity demanded is __________ than the quantity supplied.

• A) rise; greater
• B) fall; less
• C) fall; greater
• D) rise; less
• E) a and b

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Definitions:

Manufacturer

A company or individual that produces finished goods from raw materials by using various tools, equipment, and processes.

CRM

Customer Relationship Management; a strategy and software that businesses use to manage interactions with customers, analyzing data to improve business relationships.

SKU

Stock Keeping Unit, a unique identifier for each distinct product and service that can be purchased.

GATT

General Agreement on Tariffs and Trade, a multilateral agreement regulating international trade, aimed at reducing tariffs and other trade barriers to promote economic cooperation and free trade.