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Combining Supply and Demand (D)

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Combining Supply and Demand

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Recommended age: 17 years old
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United States
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Combining Supply and Demand (D)Online version

Combining Supply and Demand

by Christopher Muniz
1

What happens when wages are set above the equilibrium level by law?

2

On which kinds of goods do governments generally place price ceilings?

3

When buyers will purchase exactly as much as sellers are willing to sell, what is the condition that has ben reached?

4

Which of the following is an example of a good whose price goes down because of improvements in technology?

5

What happens when the supply of a nonperishable good is greater than the consumer wants to buy?

6

What happens to a market in equilibrium when there is an increase in supply?

7

Which of the following is a situation that makes the market behave inefficiently?

8

What is it called when the government uses some tool other than money to allocate goods?

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