What happens when there is a surplus in a market?
a. There is upward pressure on price.
b. There is downward pressure on price.
c. The market could still be in equilibrium.
d. There are too many buyers chasing too few goods.
Ans: b. There is downward pressure on price.
You might also like to view...
Central Bark Doggie Day Care opened the first day care center for dogs. It currently has 31 locations, with a new Gainesville, Florida, location coming soon
The concept of day care center for dogs became so popular that other competitors begin to enter the market. With competing companies such as Camp Bow Wow and others entering the market, it can be said that the concept of day care center for dogs is moving into the _____ stage of a product life cycle. a. introductory b. growth c. maturity d. decline
The marginal economic method is a major method used to determine the size of the sales force that is based on the forecasted sales level divided by an assumed average sales per salesperson
Indicate whether the statement is true or false