If There Is a Shortage in a Free Market,then

question 170

Multiple Choice

If there is a shortage in a free market,then

• A)suppliers will decrease their output to match demand.
• B)consumers competing for a limited quantity supplied will drive down the price.
• C)suppliers will accept any price below equilibrium.
• D)consumers competing for a limited quantity supplied will drive up the price of the good.

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Definitions:

Solids

Matter with a definite shape and volume, one of the fundamental states of matter along with liquids and gases.

Sediment

Particles that settle at the bottom of a liquid; in a medical context, it may refer to the solid material that settles at the bottom of urine.

Evaluation

The process of examining something carefully to judge its value, quality, or importance, often for decision-making purposes.

Urine

A liquid by-product of metabolism in the bodies of many animals, including humans, that is excreted by the kidneys and expelled from the body through the process of urination.