In the Short Run, Once a Market Has Reached Equilibrium

question 133

Multiple Choice

In the short run, once a market has reached equilibrium

• A) price and quantity will be stable.
• B) quantity will drift upward.
• C) forces are set in motion that will shift supply and demand.
• D) price and quantity will gravitate toward a new equilibrium.

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Definitions:

Body Language

Nonverbal communication through physical behaviors, such as gestures, facial expressions, and posture.

Culture Shock

Describes the feeling of disorientation or uncertainty experienced by someone when they are suddenly subjected to an unfamiliar culture, way of life, or set of attitudes.

Non-material Culture

The ideas, beliefs, practices, and values of a society, in contrast to its physical objects and technology (material culture).

Material Culture

The physical objects, resources, and spaces that people use to define their culture, including homes, places of worship, and items of daily use.