When the Market Price Is Established Where Demand and Supply

question 155

Multiple Choice

When the market price is established where demand and supply curves intersect:

• A) consumer buying tends to exceed the quantity producers supply.
• B) the quantity consumers demand generally fall short of the quantity producers supply.
• C) the quantity demanded and the quantity supplied are equal.
• D) all of the above will result.

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Definitions:

Limbic System

A complex system of nerves and networks in the brain, involved in instinct and mood control, as well as the processing of emotions and memories.

Somatic Nervous System

A part of the peripheral nervous system that consists of nerve fibers that send sensory information to the central nervous system and motor nerve fibers that project to skeletal muscle.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, which processes and sends out neural information.

Involuntary Reflexes

Automatic, unconscious body responses to certain stimuli that do not involve the brain's direct command.