When a Market Is in Disequilibrium Consumers and Producers Change

question 72

True/False

When a market is in disequilibrium consumers and producers change their behavior.As a result the market reaches equilibrium.

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Definitions:

Rational Choice Theory

A theoretical framework that suggests individuals make decisions based on the anticipated costs and benefits, aiming to maximize their advantage.

Social Interaction

The process by which individuals act and react in relation to others, forming the basis of social relationships.

Sociological Question

A query aimed at understanding social phenomena, including the structures of societies, the dynamics of social relationships, and cultural norms.