In the Case of a Surplus

question 139

Multiple Choice

In the case of a surplus,

• A)there is no need for adjustment because equilibrium is rarely perfect.
• B)the quantity supplied exceeds the quantity demanded at the current price level.
• C)producer incomes will fall and production will rise in order to make up for the shortfall.
• D)market price will rise.
• E)the quantity demanded exceeds the quantity supplied at the current price level.

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Definitions:

Online Retailers

Businesses that sell goods or services to consumers through the internet, without a physical storefront.

Private-label Brand

Products manufactured by one company but sold under another company's brand, often positioned as lower-cost alternatives to national brands.

Place

In marketing, refers to the distribution aspect of the marketing mix that determines how products get to the consumer.

Customer Service

The assistance and advice provided by a company to those people who buy or use its products or services.