If, at the Current Price, There Is a Surplus of a Good

question 191

Multiple Choice

If, at the current price, there is a surplus of a good, then

• A)​the quantity supplied is greater than the quantity demanded.
• B)​the market must be in equilibrium.
• C)​the price is below the equilibrium price.
• D)​quantity demanded equals quantity supplied.

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Definitions:

Regulatory Environment

Comprises laws, regulations, and governmental guidelines that govern the operation of businesses and industries.

Political Environment

Refers to the impact of government actions, stability, policies, and regulations on an organization's operations.

Equilibrium Price

The price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific point in time.