When the Market for a Commodity Is in Equilibrium,________

question 24

Multiple Choice

When the market for a commodity is in equilibrium,________.

• A) no economic agent will want to change his or her behavior
• B) there will still be some unsold stock of the commodity
• C) all buyers of the commodity will want to change their behavior
• D) all sellers of the commodity will want to change their behavior

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Definitions:

Financial Account

A component of a country's balance of payments that records transactions involving domestic and foreign financial assets and liabilities.

Remittances

Money transferred by foreign workers to individuals in their home country, contributing to the economy through support of family and investment in local businesses.

Workers

Individuals engaged in any form of employment, contributing labor to produce goods or services.

Net Transfers

The balance of financial transactions from grants, remittances, or aid between entities or countries, excluding commercial transactions.