If the Price of an Item Can Freely Adjust, a Market

question 285

Multiple Choice

If the price of an item can freely adjust, a market will

• A) always move towards equilibrium.
• B) always have an excess quantity demanded.
• C) always have an excess quantity supplied.
• D) never move towards equilibrium because prices are always increasing.

Understand the role of individual needs and their impact on job performance and motivation.

Analyze the relationship between motivation, goal setting, and job satisfaction.

Evaluate the predictive power of emotional intelligence on academic and job performance.

Recognize the influence of prenatal and environmental factors on mental health.

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Definitions:

Resources

Assets, materials, and inputs needed to produce goods and services in an economy.

Standard of Living

A measure indicating the degree of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area.

Total Annual Output

The total value or volume of goods and services produced by an economy within a year.

Germany

A country in Central Europe known for its rich history, economic strength, and contributions to arts, science, and technology.