If the Quantity Demanded Is Less Than the Quantity Supplied

question 78

Multiple Choice

If the quantity demanded is less than the quantity supplied, then:

• A) the price will have to increase to establish equilibrium.
• B) there will be an excess supply of goods.
• C) the quantity supplied will be less than the quantity demanded.
• D) the demand will shift to the right.

Understand the terminology specific to classical conditioning.

Explain the significance of Pavlov's experiments on conditioning.

Recognize the role of experience in permanent behavior changes.

Understand the mechanisms of homogeneity and differentiation within the education system.

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Definitions:

Import Quotas

Limits set by a government on the amount or value of goods that can be imported into a country.

Domestic Supply

The total amount of a good or service available from producers within a country for domestic consumption or use.

Demand Schedules

Tables that show the level of demand for a specific good or service at different price points, typically holding all other factors constant.

World Price

The price at which goods are traded internationally, reflective of supply and demand dynamics on a global scale.