Equilibrium in a Market Is

question 228

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 the above are correct.

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Definitions:

Journal Entry

A record in accounting that notes the debit and credit movements across accounts for a particular financial transaction.

Account

A record in bookkeeping that tracks the financial transactions of a specific asset, liability, equity, revenue, or expense.

Accounts Receivable

Represents money owed to a company by its customers for goods or services sold on credit.

Services

Intangible products provided to consumers, which may include consultancy, maintenance, delivery, or repair services.