Asked by
Essynce Templeton
on Nov 11, 2024
Verified
Which of the following will indicate a shortage of a product in the market to suppliers?
A) The quantity supplied exceeds the quantity demanded at a particular price.
B) The quantity demanded decreases substantially.
C) The stock of inventories of most suppliers increases.
D) The quantity demanded exceeds the quantity supplied at a particular price.
E) The price of the product declines to an all-time low.
Quantity Supplied
The amount of a good or service that producers are willing and able to sell at a given price within a specified time period.
Quantity Demanded
the total amount of a good or service that consumers are willing and able to purchase at a given price in a specified period.
- Identify the conditions that cause market shortages and surpluses.
Verified Answer
SB
Learning Objectives
- Identify the conditions that cause market shortages and surpluses.