Economists use the word equality to describe a situation in which a. each member of society has the same income. b. each member of society has access to abundant quantities of goods and services, i. regardless of his or her income. c. society is getting the maximum benefits from its scarce resources. d. society's resources are used efficiently.

Answer is option A, i.e. each member of the society has the same income

Explanation:

Regarding economics or, we can say in the language of economists, equality can be defined as a situation when each member of the society, regardless of their gender, profession, and hard work; has an equal amount of wealth. It means that when each one in the society has access to all the available resources, and each one of them can afford those goods and services, then they are said to be economically equal.

answer; comparing the additional benefits and costs;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.