Shortages of a product usually result in price increases in a market economy; surpluses usually result in price decreases.
Standard detail
4.
Benchmark
Depth 1Parent ID: 83490D97B8E44F82A46FF8003EE4926CStandard set: Grades 9, 10, 11, 12
Original statement
Quick facts
- Statement code
- 4.
- List ID
- 4.
- Standard ID
- 4C3D1884E6304899A283BB9956EB4765
- ASN identifier
- S2604735
- Subject
- Economics
- Grades
- 09, 10, 11, 12
- Ancestor IDs
- 83490D97B8E44F82A46FF8003EE4926C
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US