BUS 121
Ecpi University, Northern Virginia
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BUS 121 Midterm Study Sheet With Correct Answers. Graded A
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BUS 121 Midterm Study Sheet With Correct Answers. Graded A
What occurs when the quantity demanded exceeds the quantity supplied?
A) demand deficit
B) surplus
C) equilibrium point
D) shortage
E) supply schedule
Explanation: D) When demand exceeds supply, there will not be enough goods available to meet the demand for them. This is known as a shortage.Page Ref: 12
Which of the following does NOT represent a degree of competition in a private enterprise system?
A) oligopoly
B) socialism
...
Exam (elaborations)
BUS 121 Midterm Study Sheet With Correct Answers. Graded A
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ago
BUS 121 Midterm Study Sheet With Correct Answers. Graded A What occurs when the quantity demanded exceeds the quantity supplied? A) demand deficit B) surplus C) equilibrium point D) shortage E) supply schedule Explanation: D) When demand exceeds supply, there will not be enough goods available to meet the demand for them. This is known as a shortage.Page Ref: 12 Which of the following does NOT represent a degree of competition in a private enterprise system? A) oligopoly B) socialism ...
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