A Surplus Exists in a Market If

question 139

Multiple Choice

A surplus exists in a market if

• A)there is an excess demand for the good.
• B)quantity demanded exceeds quantity supplied.
• C)the current price is above its equilibrium price.
• D)All of the above are correct.

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Definitions:

Seniority

A system where priority or privilege is given to employees based on their length of service in the company.

Skills And Abilities

The competencies and capabilities that enable an individual to perform tasks and activities to a certain standard.

Forecasting Human Resources

involves predicting an organization's future workforce needs to ensure it has the right number of employees with the necessary skills.

Organizational Objectives

The goals or targets that a company aims to achieve, which guide its operational and strategic activities.