At the Equilibrium Point of a Market

question 57

Multiple Choice

At the equilibrium point of a market,

• A) supply equals demand.
• B) neither demanders nor suppliers are satisfied.
• C) the quantities supplied and demanded are equal.
• D) suppliers will refuse any price increases offered by demanders.

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Definitions:

Habituation

The psychological process by which an individual becomes accustomed to a stimulus and consequently decreases their response to it over time.

Shaping

A method used in behavioral psychology to gradually train a new behavior by reinforcing successive approximations of the target behavior.

Discrimination

Unfair or prejudicial treatment of individuals based on their characteristics such as race, gender, age, or sexual orientation, resulting in denial of opportunities or rights.