If a Shortage Exists in a Market,then We Know That

question 22

Multiple Choice

If a shortage exists in a market,then we know that the actual price is

• A)above the equilibrium price,and quantity supplied is greater than quantity demanded.
• B)above the equilibrium price,and quantity demanded is greater than quantity supplied.
• C)below the equilibrium price,and quantity demanded is greater than quantity supplied.
• D)below the equilibrium price,and quantity supplied is greater than quantity demanded.

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Definitions:

Unilateral Action

An action taken by one party or nation without the agreement or cooperation of others.

Terms Of Employment

The conditions and agreements under which an employee works, including hours, salary, benefits, and duties.

Specific Performance

A legal remedy requiring a party to perform their obligations under a contract, rather than simply paying damages.

Wrongful Dismissal

Termination of employment without legal justification, violating the contract or laws protecting the employee's rights.