Those Things Held Unchanged When an Equilibrium Price Is Established

question 58

Multiple Choice

Those things held unchanged when an equilibrium price is established:

• A) are called demand and supply shifters if a change in one (or more) of them would change demand or supply.
• B) include only supply shifters.
• C) seldom change, and therefore prices and quantity in most markets are remarkably stable.
• D) never change, by definition.

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Definitions:

Cheques

Written, dated and signed instruments that direct a bank to pay a specific sum of money to the bearer.

Disburses

The act of paying out or distributing funds, typically related to the operational expenses or investment payouts of a company.

Average Amount

A statistic that represents the central or typical value of a set of numbers, calculated by dividing the sum of all values by the number of values.

BAT Model

A model used in negotiation that stands for Best Alternative To a Negotiated Agreement, helping parties determine their course of action should negotiations fail.