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Basic Economic Question?
Complete the following statement:
"when there is a shortage of a good
A) producers react to shortages by lowering prices
B) as price increases, producers are driven to produce less
C) as price increases, consumers demand more of a particular good
D) decreasing prices lead to a change in demand
E) consumers compete against one another by bidding the price upward
3 Answers
- Anonymous9 years agoFavorite Answer
This is called "multiple choice", or some people call it "multiple guess". It is different because you might not need to know the answer in order to pick the correct answer. Looking at the choices you can see that only A and E are grammatically qualified to finish the given sentence. A is obvious nonsense, not related to reality, so E is the only one left.
Quite often on a test you will find the answer to one question in the list of choices for another question. Be aware of that when you take tests.
- I HalimicLv 59 years ago
A is nonsense. D is nonsense. B lacks clarity. C also lacks clarity.
That leaves us with E. I'm going with E.
