When a Surplus Exists for a Product

question 10

Multiple Choice

When a surplus exists for a product,

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

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Definitions:

Limitations

Constraints or restrictions that impact the scope, effectiveness, or outcome of an activity, study, or project.

Balanced Scorecard

A strategic planning and management system that organizations use to communicate what they are trying to accomplish, align daily work with strategy, prioritize projects, products, and services, and measure and monitor progress towards strategic targets.

Profit

The financial gain made in a transaction, calculated as the difference between revenue and expenses.

Not-for-profit

Organizations that operate for purposes other than generating profit, often focused on social, educational, or charitable activities.