Answer: Shortage
Explanation:
The equilibrium price is the price at which the demand for a particular product and its supply is equal.
When the price of a good is below the equilibrium price for that good, this will more people demanding the good which will therefore lead to a situation where the quantity demanded is less than the quantity that is supplied. This leads to a situation called shortage.
Answer:
if you moved somewhere in the old days wahta th twould the cost be that is the definition of that
Explanation:
Answer:
b. unlimited wants and limited resources.
Explanation:
There are different definitions of economics. Some say it´s a science that studies the production, distribution and consumption of good and services. Another definition refers to the theories and models that govern the market process. But definitely, economics must strike a balance between a society´s wants - that may be unlimited - and the limited resources available.
Answer:
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Explanation:
