A Shortage Occurs Whenever

question 247

Multiple Choice

A shortage occurs whenever

• A) quantity demanded exceeds quantity supplied at the equilibrium price.
• B) price is less than equilibrium price.
• C) quantity demanded is less than quantity supplied.
• D) goods are scarce.
• E) some of the people who need the product are not willing and able to buy it at the equilibrium price.

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Definitions:

Independent Variables

Factors that are manipulated or controlled in an experiment to investigate their effects on dependent variables.

Demographic Information

Data relating to the characteristics of a population or specific groups within it, such as age, sex, income, and employment status, often used in research to identify patterns or trends.

Web Survey

A research method involving the collection of data through questionnaires or surveys distributed over the Internet.

Observational Data

Data collected by observing subjects in their natural environment without interference or manipulation by the observer.