Soru
In which circumstance would a shoe store reduce the price of shoes? equilibrium Surplus Shortage Specialization
Çözüm
4.6
(200 Oylar)
Beril
Profesyonel · 6 yıl öğretmeni
Uzman doğrulaması
Cevap
The correct answer is 'Shortage'.
Daha Fazla
## Step 1The question is asking about the circumstances under which a shoe store would reduce the price of its shoes. The options provided are equilibrium, surplus, shortage, and specialization.## Step 2Equilibrium refers to a state where supply equals demand. In this state, there is no excess supply or demand, and the price is stable.## Step 3Surplus refers to a situation where the supply of a product exceeds its demand. In this situation, the store would not reduce the price of the shoes, but rather increase it to encourage more customers to buy.## Step 4Shortage refers to a situation where the demand for a product exceeds its supply. In this situation, the store would reduce the price of the shoes to encourage more customers to buy and to clear out the excess inventory.## Step 5Specialization refers to a situation where a store focuses on producing a specific type of product. This does not directly relate to the price of the shoes.