Equilibrium in a Market Is

question 58

Multiple Choice

Equilibrium in a market is

• A)a situation in which there are no inherent forces that produce change.
• B)the natural state of affairs in the market.
• C)the actual price and quantity that will exist in a market.
• D)the best price and quantity that can exist in a market.
• E)All of these responses are correct.

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Definitions:

Originality

The quality of being novel or unique in concept, creation, or execution.

Inventiveness

The quality of being resourceful and innovative in creating something new or solving problems.

Vision

The ability to think about or plan the future with imagination or wisdom; often implies foresight and direction-setting in leadership contexts.

Creativity And Innovation

The process of generating new and novel ideas and turning them into value-creating products, services, or ways of doing things.