In the Figure Above, the Object Indicated by Item 3

question 59

Multiple Choice

In the figure above, the object indicated by item 3 ____.

• A) houses chips
• B) temporarily holds data
• C) is a thin slice of silicon
• D) represents slots for sound, modem, or graphics cards

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market equilibrium price.

Demand Increases

A situation wherein there is a rise in the quantity of a product or service sought after by consumers at a given price level.

Equilibrium Price

The price level at which the amount of products available for sale matches the amount consumers want to buy.

Equilibrium Quantity

The quantity of goods or services supplied that is exactly equal to the quantity demanded at the market equilibrium price.