When Demand Increases There Is a ______ at the Old

question 168

Multiple Choice

When demand increases there is a ______ at the old equilibrium price, which puts ______ pressure on price until the market reaches the new equilibrium.

• A) surplus; downward
• B) surplus; upward
• C) shortage; upward
• D) shortage; downward

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Definitions:

Big Five

A model postulating five core dimensions of personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Personality Factors

Distinct dimensions of personality that are used to describe and understand individual differences.

Agreeableness

A characteristic of being amiable, cooperative, and harmonious in one's interactions with others.

Boomerang Generation

Adults who return to live with their parents after a period of independent living, often due to economic constraints or personal choices.