CFM Exam Dumps | When are the laws of supply and demand relative to price?

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Question 7/122

When are the laws of supply and demand relative to price?

A. When demand exceeds supply, prices drop

B. Price is the only factor that limits the supply

C. When demand exceeds supply, prices rise

D. If supply exceeds demand, prices rise

Correct Answer: C

When demand exceeds supply, prices rise (C), as there are fewer goods available for purchase, leading buyers to compete for limited resources.
* Basic supply and demand principles:
* Higher demand + lower supply = higher prices
* Lower demand + higher supply = lower prices
* Why not other options?
* (A) Prices do not drop when demand exceeds supply; they increase.
* (B) Other factors, such as production costs and regulations, influence supply beyond price alone.
* (D) If supply exceeds demand, prices typically fall, not rise.

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