An Out-Of-Stock Condition May Occur If the ________ ________ Is

question 11

Short Answer

An out-of-stock condition may occur if the ________ ________ is not known for a particular inventory item.

---

Definitions:

Equilibrium Quantity

The quantity of goods or services supplied is exactly equal to the quantity of goods or services demanded in the market.

Price Controls

Government-imposed limits on the prices that can be charged for goods and services, intended to curb inflation or protect consumers.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded; also known as the market-clearing price.

Equilibrium Quantity

The measure of goods or services that are supplied and demanded at the price of equilibrium within a market setting.