Final answer:
The statement is true; if the actual price in a market is above the equilibrium price, the quantity supplied would be greater than the quantity demanded, leading to a surplus and putting downward pressure on prices. The correct option is a.
Step-by-step explanation:
If the actual price in a market were above the equilibrium price, quantity supplied would be greater than quantity demanded, so there would be pressure on prices to decrease. This statement is true. When the price is set above the equilibrium level, consumers buy less of the product because of the higher cost, which leads to a decrease in quantity demanded.
At the same time, producers are willing to supply more of the product because they can make more profit from the higher prices, leading to an increase in quantity supplied. Consequently, this creates an excess supply, also known as a surplus, where there is more product available than consumers want to buy at that price.
Due to this surplus, economic pressures will cause suppliers to lower their prices in an attempt to stimulate demand and reduce their inventories. As a result, the price will be pushed down towards the equilibrium level, where quantity demanded equals quantity supplied and the market is in a state of balance.
Hence, option a is correct.