If You Observe a Market Where Quantity Demanded Doesn't Equal

question 22

Multiple Choice

If you observe a market where quantity demanded doesn't equal quantity supplied, a logical conclusion is that:

• A) the law of demand and supply do not hold in the market.
• B) the fallacy of composition is not operative in the market.
• C) the invisible hand is the only force at work in the market.
• D) social and political forces are likely to exist.

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Definitions:

Cost

Refers to the value, typically in monetary terms, required to gain, produce, or maintain something.

Gesture Recognition

An input method that interprets human gestures, in an attempt for computers to begin to understand human body language.

Input Technology

Refers to the tools and methods used to input data into a computer system, including keyboards, mice, touch screens, and voice recognition systems.

ALU

Arithmetic Logic Unit, a digital circuit used to perform arithmetic and logic operations that constitute the basis of all computer systems.