In Response to a Surplus the Market Price of a Good

question 237

True/False

In response to a surplus the market price of a good will fall; as the price falls, the quantity demanded will increase and quantity supplies will decrease until equilibrium is reached.

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Definitions:

Fixation

In psychology, a persistent focus of the id’s pleasure-seeking energies at an earlier stage of psychosexual development.

Freud

An Austrian neurologist named Sigmund Freud established psychoanalysis, which is a method for addressing mental illnesses by facilitating dialogue between a psychoanalyst and their patient.

Excessive

Amounts or actions that go beyond what is considered normal, necessary, or reasonable.

Inferiority Complex

A psychological condition that arises from feelings of inadequacy and manifests as a lack of self-esteem.