Are Markets Always in Equilibrium

question 11

Multiple Choice

Are markets always in equilibrium?

• A) Yes they are always in equilibrium because very few things tend to alter supply and demand.
• B) No, but if there is no outside interference, they tend to move toward equilibrium.
• C) No they are not always in equilibrium because they never "settle down" to a stable price and quantity.
• D) Yes, they are always at the equilibrium point, or very close to it.

Identify and apply the addition and multiplication rules of probability.

Understand the concept of chemical equilibria and the factors affecting equilibrium constants.

Identify and explain the nature and significance of tautomers, specifically ketone-enol tautomerism.

Understand the mechanism of enolization and the conditions under which it occurs.

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Definitions:

Subduction

The process by which one tectonic plate moves under another, diving into the earth’s mantle, often causing volcanic activity and earthquakes.

Transform Fault

A type of fault where two tectonic plates slide past one another horizontally, often causing earthquakes.

Lahars

Volcanic mudflows or debris flows composed of a slurry of pyroclastic material, rocky debris, and water, that flow down from a volcano, often following a volcanic eruption.

Basaltic Lava

A type of molten rock that is low in silica and flows easily, typically forming smooth, broad volcanic features.