If Supply Decreases Along a Given Demand Curve,______

question 95

Multiple Choice

If supply decreases along a given demand curve,______.

• A)there will be an excess quantity demanded in the market,resulting in an increase in the equilibrium price and a decrease in the equilibrium quantity
• B)there will be an excess quantity supplied in the market,resulting in a decrease in the equilibrium price and an increase in the equilibrium quantity
• C)there will be an excess quantity demanded in the market,resulting in an increase in both the equilibrium price and quantity
• D)there will be an excess quantity supplied in the market,resulting in a decrease in both the equilibrium price and quantity
• E)price will fall,shifting the demand curve outward and raising the equilibrium quantity

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Definitions:

Local Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value to the local community or economy.

Meganational Companies

Refers to large corporations that operate in several countries around the world, often influencing local economies and cultures.

Meganational Strategy

A business approach that involves operating on a global scale, effectively managing and integrating operations across multiple national borders.

Local Human Capital

The skills, knowledge, and experience possessed by an individual or population, considered in terms of their value or cost to a local area or organization.