A Surplus Occurs Whenever

question 18

Multiple Choice

A surplus occurs whenever

• A)current price is greater than equilibrium price
• B)quantity supplied exceeds quantity demanded at the equilibrium price
• C)quantity demanded is greater than quantity supplied
• D)the problem of scarcity of a good is solved
• E)some buyers would be willing and able to pay even more for it than they have to at equilibrium

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Definitions:

Human Capital Theory

An economic theory which posits that investing in education and training enhances the productivity and efficiency of individuals, hence contributing to a country's economic development.

Firm-specific Human Capital

The unique skills, knowledge, and experiences that employees develop in a particular company, which are valuable to that company but not easily transferable to other firms.

Financial Returns

Financial returns are the profits or losses generated from an investment over a specific period, expressed as a percentage of the original investment.

Mentorship

A professional relationship in which an experienced person assists another in developing specific skills and knowledge that will enhance the less experienced person's professional and personal growth.