A Surplus Currently Exists for a Product Called Widgets

question 127

True/False

A surplus currently exists for a product called widgets.In a free market system,the government must step in and buy any widgets that consumers do not buy in order to eliminate the surplus and establish equilibrium.
Level of Learning 2: Understanding of concepts and principles

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Definitions:

Catharsis

Emotional release. The catharsis hypothesis maintains that “releasing” aggressive energy (through action or fantasy) relieves aggressive urges.

Emotional Release

The process of letting go of pent-up emotions, often leading to a sense of relief or catharsis.

Disturbance

An interruption or disruption in the usual condition, process, or state of a system or environment.

Inhibition

The restraint or suppression of an action, emotion, or thought.