When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics? | MCQ Hive

Economics Mcqs

Q When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics?

A A. cost push theory
B B. supply and demand theory
C C. fundamental theory
D D. ricardo’s theory

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