menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Economics for Business
  4. Exam
    Exam 4: The Working of Competitive Markets
  5. Question
    Explain How the Price Mechanism Would Cause a Market with a Surplus
Solved

Explain How the Price Mechanism Would Cause a Market with a Surplus

Question 16

Question 16

Essay

Explain how the price mechanism would cause a market with a surplus of goods/services to move towards equilibrium.

Correct Answer:

verifed

Verified

The surplus of goods would cause the mar...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q11: Which of the following is the most

Q12: The substitution effect refers to the effect

Q13: Which of the following is not a

Q14: The term 'goods in joint supply' refers

Q15: An increase in supply, not caused by

Q17: Consider the market for good Z. What

Q18: Economists use the term 'perfect competition' for

Q19: Which one of the following would shift

Q20: If dividend yields on Sainsbury's shares are

Q21: A free market is a market with<br>A)

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines