When a Market Equilibrium Is Achieved

question 78

Multiple Choice

When a market equilibrium is achieved,

• A)those who are willing to pay the most for the good obtain it.
• B)government regulation will have succeeded.
• C)anyone who has the skills to produce the good sells some.
• D)shortages and surpluses become minor.
• E)anyone who is willing to pay anything for the good obtains it.

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Definitions:

Police Officer

A member of the police force, responsible for enforcing the law, maintaining public order, and protecting lives and property.

Adversary System

A legal system where two opposing parties present their arguments to a neutral judge or jury for decision-making.

Inquisitorial System

A legal system where the court or a part of the court is actively involved in investigating the facts of the case.

Procedural Justice

Refers to the fairness in the processes that resolve disputes and allocate resources.