In competitive markets, a surplus or shortage will

Business

1 answer:

harina [27]3 years ago

4 0

Answer:

B. cause changes in the quantities demanded and supplied that tend to eliminate the surplus or shortage.

Explanation:

In a competitive economy, the balance between supply and goods and services occurs when demand and supply match. However, situations of oversupply or scarcity tend to alter the parameters of the demand and supply curves. If shortages occur, the price tends to rise, which generates an incentive for production. If oversupply occurs, the price tends to decrease, which is an incentive to increase demand. Thus, in the long run the economy tends to a new equilibrium, which will eliminate surplus / scarcity.

You might be interested in

"Forcing insureds to sue the insurer to collect on a claim by offering substantially less than the amount eventually recovered i

Anuta_ua [19.1K]

Answer:

Unfair Claims Settlement Practices Act

Explanation:

Here fundamentally, the act which will be acted on the given sentence is generally known as Unfair Claims Settlement Practices Act. Unfair claims practice is the inappropriate restraint of a request by an insurer or an endeavor to diminish the intensity of the claim. By interlacing in unfair claims practices, an insurer strives to diminish its values. Nevertheless, this is unlawful in various jurisdictions. Additionally, most maximum states possess formulated a version of this type of rule. Denominated essentially the Unfair Claims Settlement Practices Act, it defends safeguard consumers from the unfair manner by insurers in the appeals settlement method.

6 0

3 years ago

Which of the following scenarios is an example of monopolistic competition?

daser333 [38]

B.
The bus company has monopoly over the bus service in the town because it has no competitors.

7 0

3 years ago

Read 2 more answers

It's clear that the lives of many creative artists are being transformed by digital technology. But competing schools of thought

Advocard [28]

Answer and Explanation:

Artists' lives have been changed by digital technology. This has created different schools of thought such as the "winner take all" theory, which claims that delivering high quality products at low cost will create a world where small differences in talent demand large differences in reward, and the "long tail" theory, who claims that digital technology is creating a small portion of sellers that the market will adapt to, promoting low-cost products. These two theories are effective in different realities. However, the existence of both proves the change that programming and technology has been showing in entertainment and in the market.

7 0

3 years ago

People who want to obtain (blank)

vodomira [7]

Answer:

Explanation:

People who want to obtain credit goods services from financial institutions can use their economic political property rights to do so.

plz mark as brainliest

6 0

3 years ago

Dan has been directed to study the actors close to a company that affect its ability to serve its customers, such as the company

BlackZzzverrR [31]

Answer:

<u>B) microenvironment</u>

Explanation:

All these factors like the clients, customers, suppliers, marketing intermediate notes, customer markets, and competitors and the public, in general, all come under the microenvironment of the company which surrounds it.

The macro-environment is composed of all the external political, social, technological, economical, and demographical ones.

6 0

3 years ago

Read 2 more answers