If a beef market is in equilibrium at $4.00 per kg, an in...
If a beef market is in equilibrium at $4.00 per kg, an increase in price to $6.00 per kg may cause
Surplus in the market
Shortage in the market
Black market to come into operation
Rationing to be introduced
Correct answer is A
When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result.
Macro-economics is a study of economics science from the point of view of ...
A stock exchange is a market that ...
Money becomes a very poor store of value in a period of ______ ...
The use of government revenue and expenditure to achieve set objectives is known as ...
The demand for a commodity for the sake of what it will yield is ...
A major characteristic of natural resources is that they ...
Which of the following does not encourage the location of industries? ...
Which of the following factors will not underestimate the national income? ...