All of the Following Apply to the Description of a Market

question 1

Multiple Choice

All of the following apply to the description of a market in equilibrium except:

• A) quantity supplied equals quantity demanded.
• B) ​the intersection of the supply and demand curves.
• C) ​ no excess supply exists.
• D) ​no excess demand exists.
• E) ​the price of the good is falling.
• ​

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Definitions:

Product Manager

A role responsible for the strategy, roadmap, and feature definition for a product or product line, often acting as a liaison between various teams.

Coordination

The management of interdependencies between activities, tasks, and functions to achieve a harmonious operation and aligned efforts towards common goals.

Economies of Scale

Financial benefits gained by companies thanks to their large scale of operation, which typically leads to a reduction in the cost per unit of output as the scale increases.

Product Departmentation

A method of organizing a company based on the different products manufactured or services provided.