The Key Condition for Equilibrium to Occur in a Market

question 113

Multiple Choice

The key condition for equilibrium to occur in a market is:

• A) the demand curve equals the supply curve.
• B) quantity demanded equals quantity supplied.
• C) price equals quantity.
• D) demand for one good equals demand for all other goods.

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Definitions:

Southwest Asia

A geographical region that includes countries such as Turkey, Saudi Arabia, and Iran, often considered part of the Middle East.

Domestication

Domestication is the process through which humans have modified plants and animals through selective breeding for desired traits, resulting in species that differ significantly from their wild ancestors.

Zagros Mountains

A mountain range located in the western part of Iran, playing a significant role in the history and climate of the region.

Young Male Goats

Juvenile male specimens of the species Capra aegagrus hircus, commonly raised for their meat, milk, and fiber.