If an Increase in the Demand for a Product Is

question 69

Multiple Choice

If an increase in the demand for a product is greater than the increase in the supply,what will be the immediate result?

• A)A surplus.
• B)A shortage.
• C)The price will fall.
• D)Cannot be determined.

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Definitions:

Termination Notice

A formal declaration, either oral or written, that signifies the end of an agreement or employment.

Day-to-Day Operations

These are the routine activities that a business or organization conducts on a regular basis to ensure its smooth and ongoing functioning.

Tortious Acts

Actions that cause harm or injury to another person, making the actor legally liable for damages.

Franchisor Liability

Legal responsibility of the franchisor for certain happenings within the franchisee's business operation, depending on the level of control exercised by the franchisor.