If the quantity supplied in a market exceeds the quantity demanded,a shortage will exist.
Level of Learning 1: Knowledge of key terms

Name: If the quantity supplied in a market exceeds the quantity demanded,a shortage will exist. Level of Learning 1: Knowledge of key terms
Brand: Quizplus
Rating: 4.8 (33 reviews)

Question

Quizplus · Accepted Answer

The statement is incorrect. If the quantity supplied exceeds the quantity demanded, a surplus will exist, not a shortage. A shortage occurs when the quantity demanded exceeds the quantity supplied.

If the Quantity Supplied in a Market Exceeds the Quantity