As a Result of a Shortage

question 138

Multiple Choice

As a result of a shortage,

• A)Consumers increase demand for the product.
• B)Producers reduce supply.
• C)Producers increase output and raise price.
• D)Government purchases decrease.

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Definitions:

Liquidation

The process of converting company assets into cash to pay off creditors or redistribute among shareholders during the closing or bankruptcy of a business.

Objectives

Specific, measurable goals set by a business or individual to guide actions and measure success.

Reorganization

The process of restructuring a company's business affairs, structure, or debts to increase efficiency or to adapt to changes.

Chapter 11

A provision of the United States Bankruptcy Code that allows businesses to reorganize and restructure their debts under court supervision.