The Table Given Below Reports the Quantity Demanded and Supplied

question 59

Multiple Choice

The table given below reports the quantity demanded and supplied of a commodity at different prices in a market.Table 3.5

-In a market where the price is restricted by price floors or price ceilings,

• A)all sellers will be able to sell everything they produce.
• B)surpluses and shortages will exist.
• C)all buyers will get what they want.
• D)disequilibrium will automatically correct itself.
• E)surpluses and shortages will put pressure on the price to move to its equilibrium.

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Definitions:

Great Depression

A severe worldwide economic downturn that lasted from the late 1920s through the 1930s, leading to mass unemployment and economic hardship.

Deprivation

The state of being deprived of basic needs or comforts, often leading to adverse physical and psychological effects.

West Coast

The westernmost region of the United States, known for its diverse landscapes, significant technological and entertainment industries, and vibrant cultural scenes.

San Francisco

A cultural, commercial, and financial center in Northern California known for its iconic Golden Gate Bridge, steep streets, and historical significance in the technology industry.