In a market there is a shortage of a good. What change would cause the market to come to an equilibrium?

A) a decrease in supply
B )a fall in price
C) an increase in demand
D) a rise in price

Answers

Answer 1

Answer:

D) a rise in price

Explanation:

At the equilibrium point, the quantity demanded and the quantity supplied are the same. There is no excess shortage or supply in both demand and supply.

A shortage occurs when suppliers are not able to meet the market demand. Here, demand is the quantity that buyers are willing to buys at a specific price over time.  As per the law of demand, high product price causes demand to decrease while low price results in increased demand.

A shortage of a product means its demand is high. Many buyers are willing to buy the commodity at the current price.  As per the law of demand, a price increase will result in reduced demand and achieve equilibrium.


Related Questions

Art teacher Monica earns time and a half for the number of hours she works over 40 hours. One week she worked 48 hours. How many hours of overtime did she work?

Answers

Answer:

8 hours

Explanation:

Here, we want to know the number of overtime hours worked.

From the question, we are told that the pay is slightly different and higher if she worked for some hours over 40 hours

What this means is that the regular number of hours is 40; then the number of hours in this case 8 over 40 is her over time

Name one potential danger of choosing a career based solely on salary and earnings potential.

Answers

Answer:

too much pressure and stress

one is going to work under pressure as the workload will be increasing mainly because the salary will be high and that will also lead to stress

One potential danger of choosing a career based solely on salary and earnings potential is poor health and depression.

What is a Career?

A career is referred to what an individual chooses as a profession to earn something. A career of an individual is based on his talents, skills, and abilities which help him to seek growth and development and achive the goals of life.

A career should be based on individual interest rather than based solely on salary and earnings potential. As salary does not give the satisfaction of work and provides stress and pressure while working.

A career based on interest provides satisfaction and lack of pressure and good mental well-being whereas earnings potential will lead to stress and poor health which lead to many health problems.

Learn more about Career, here:

https://brainly.com/question/2160579

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Locating close to suppliers reduces these cost

Answers

Locating close to the raw material supplies can reduce where raw materials are heavy and large quantities are used up in production costs. This is particularly true for industries like steel, which uses large quantities of iron ore in the production process.

Which group once represented 35 percent of the labor force, but today, __________ represent only about 11.1 percent of the labor force, and are consequentially, much less powerful in influencing economic policy?

Answers

Answer:

"Labor unions" seems to be the right approach.

Explanation:

Labor unions, therefore, have a substantial effect on jobs, corporations, and as well as the political system. This seems to be a worker association done to negotiate with the workplace in addition to performance management, such as claims, labor issues, compensation, minimum wages, service time, as well as other job security.

hows life people and are u failing

Answers

Answer:

terrible and no i am not failing

Explanation:

someone go check out my recent question i need help asap

MORE FREE PINTS! IT'S CLEARANCE SALE!! FLAG QUESTION WHEN YOU'RE DONE!!!

Answers

Answer:

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The HR department at Clearwater Electronics received a report of a work-related injury on the production line that resulted in the employee missing several days of work. Supposedly, the employee hurt his back while lifting a box of components. However, another employee reported that the employee was not really hurt and just wanted some days off. It is the responsibility of the HR department to process workers' compensation claims and make sure the claim is not fraudulent. Which statement gives the best reason for HR to ensure that the claim is legitimate?

Answers

Answer: Fraudulent workers' compensation claims can lead to higher insurance premiums and penalties, so it is important for HR to protect the company and avoid costly mistakes.

Explanation:

With regards to the scenario in the question, the statement that gives the best best reason for the Human Resource to make sure that the claim is legitimate is because the activities of workers that are fraudulent can lead to the increase in both the insurance premium and penalties.

Therefore, every claim.has to be verified and seen to be legitimate. The HR must therefore protect the company and make sure that costly mistakes are avoided.

The method of determaining what a business will get in exchange for its products
A. pricing
B. supplies
C. Command
D, market

Answers

Answer:

A. pricing

Explanation:

Pricing entails determining the value to attach to a product. It is the process through which a business decides how much customers will pay for its products. A business must consider the production costs and the desired margins when setting a price.

Price plays a crucial role in the success of a product and the business.  A high price has higher profit margins but may put-off some customers. A low price may attract demand but may lead to losses. Sometimes, low prices are associated with a poor quality product.

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