Price Tends to Be in Equilibrium Where Supply and Demand

question 119

Multiple Choice

Price tends to be in equilibrium where supply and demand intersect because when quantity supplied:

• A) equals quantity demanded, prices don't change.
• B) exceeds quantity demanded, prices have a tendency to rise.
• C) is less than quantity demanded, prices tend to fall.
• D) equals quantity demanded, prices will fall.

---

Definitions:

Crystal Ball

A metaphorical term referring to the attempt to predict future events or outcomes, often used in the context of business forecasting or decision making.

Crystal Ball

A forecasting and risk analysis software used in financial, operational, and project applications.

Program Evaluation and Review Technique

The Program Evaluation and Review Technique (PERT) is a project management tool used to estimate the duration of a project by analyzing the time required for various tasks.

Project Management

The practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria at a specified time.