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When a Person's Income Is Greater Than Her Spending on Consumption

question 19

Multiple Choice

When a person's income is greater than her spending on consumption goods,then she is:

Explain the concept of illegal markets (black markets) and their relation to price controls.
Understand how quantity demanded and quantity supplied are affected by changes in price controls.
Grasp the equilibrium concept in market economics and how it is achieved or altered by external interventions.
Describe the relationship between supply and demand curves and price determination.

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