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What describes the situation that occurs when the equilibrum quantity has been reached?
there is no surplus or shortage
What describes the situation that occurs when the equilibrium quantity has been reached?
There is no surplus or shortage
What best describes a situation in which exports exceed imports?
trade surplus
Occurs when supply outstrips demand?
surplus
When does shortage and surplus occur?
A shortage occurs when quantity demand exceeds quantity supplied. A surplus occurs when quantity supplied exceeds quantity demanded.
What describes the situation that occurs when the equilibrum quantity has been reached?
there is no surplus or shortage
Describes the situation that occurs when the equilibrium quantity has been reached?
There is no surplus or shortage
What describes the situation that occurs when the equilibrium quantity has been reached?
There is no surplus or shortage
What best describes a situation in which exports exceed imports?
trade surplus
Occurs when supply outstrips demand?
surplus
When does shortage and surplus occur?
A shortage occurs when quantity demand exceeds quantity supplied. A surplus occurs when quantity supplied exceeds quantity demanded.
What is surplus production?
Surplus production occurs when too much of a good is produced. Supply then outweighs the demand.
Describe a situation in which a surplus occurs?
A publisher has printed more copies of a book than people want to read.
When does surplus occure?
A surplus occurs when the quantity demanded is less than the quantity supplies. Producers may lower prices when they are left with a surplus of products.
What accurately describes a situation in which substitution occurs?
A restaurant starts using margarine instead of butter because butter becomes more expensive
What accurately describes a surplus?
An example: Consumer demand for a certain car is below the number of cars that are produced. There is an unsold surplus of the vehicles.
What accurately describes surplus?
An example: Consumer demand for a certain car is below the number of cars that are produced. There is an unsold surplus of the vehicles.
