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.

---

Definitions:

Filipino Independence

The state of being free from Spanish, American, and Japanese rule, officially recognized for the Philippines on July 4, 1946.

Women's Era

A period during the late 19th and early 20th centuries characterized by significant advancements in women's rights, including suffrage and increased participation in public life.

Alfred T. Mahan

A United States naval officer and historian whose theories on the importance of sea power influenced naval strategies around the world in the late 19th and early 20th centuries.

Navy

A navy consists of the branch of a nation's armed forces principally designated for naval and amphibious warfare; namely, lake-borne, riverine, littoral, or ocean-borne combat operations and related functions.