There Is Equilibrium in the Market When

question 50

Multiple Choice

There is equilibrium in the market when:

• A) there is no shortage.
• B) there is no surplus.
• C) price is established where the supply curve and the demand curve intersect.
• D) all of the above are true.

---

Definitions:

Social Media Usage

The practice of using websites and applications that enable users to create and share content or to participate in social networking.

P.T. Barnum

A 19th-century American showman and businessman known for promoting celebrated hoaxes and for founding the circus that became the Ringling Bros. and Barnum & Bailey Circus.

Reality Television

A genre of television programming that documents unscripted real-life situations, often featuring unknown individuals rather than professional actors.

Valdez Oil Spill

A major environmental disaster that occurred when an oil tanker spilled millions of gallons of crude oil into Alaska's Prince William Sound in 1989.