When the Market Price Is Higher Than the Equilibrium Price,there

question 47

Multiple Choice

When the market price is higher than the equilibrium price,there is

• A)a surplus.
• B)a shortage.
• C)both a shortage and a surplus.
• D)neither a shortage nor a surplus.

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Definitions:

Personal Finances

The management of an individual's money and financial decisions, including budgeting, investing, and planning for the future.

Cash Inflows

The total amount of money being transferred into a business, from sales, investments, or financing activities.

Financial Reporting Practices

Procedures and standards governing how a company's financial health and operations are recorded, summarized, and reported to stakeholders.

Budgeting System

A systematic approach to planning and controlling the financial resources of an organization or individual.