When the price of a good is above the equilibrium, there ...
When the price of a good is above the equilibrium, there will be
A shortage
A surplus.
Unemployment
Inflation
Correct answer is B
If the price of a good is above equilibrium, this means that the quantity of the good supplied exceeds the quantity of the good demanded. There is a surplus of the goods on the market.
A characteristic common to partnership and sole proprietorship is ...
Plantation farming can best be defined as cultivation of ...
What is the median of the distribution? ...
Which of the following is NOT a function of taxation? ...
Malthus became famous through his theory which may be stated simply ...
The type of business finance that entitle the holder to a fixed rate of dividend is ...
Increasing returns to scale suggests that ...
In calculating the Gross National Product (GNP) by the income approach, all the following are i...
One of the factors affecting the supply of manufactured goods is ...