NVC Often Happens Without Our Control and Knowledge; When This

question 3

Multiple Choice

NVC often happens without our control and knowledge; when this betrays our internal feelings, it is called:

• A) Adage
• B) Leakage
• C) Prestige
• D) Vantage

---

Definitions:

Quantity Demanded

The overall quantity of a product or service that buyers are ready to buy at a specific price.

Quantity Supplied

How much of a product or service that sellers are willing and able to transact at a given price level.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded; it is the price that clears the market.

Surplus

A surplus refers to the amount by which the quantity supplied of a product or service exceeds the quantity demanded, often resulting in a decrease in prices.