The Equilibrium Principle Asserts That in a Market Equilibrium

question 63

Multiple Choice

The Equilibrium Principle asserts that in a market equilibrium:

• A)no unexploited opportunities exist for society.
• B)unexploited opportunities exist for individuals but not for society.
• C)unexploited opportunities exist for both individuals and society.
• D)no unexploited opportunities exist for individuals.

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Definitions:

Absolute Thresholds

The minimum intensity of stimulus that can be detected by the sensory systems at least 50% of the time.

Signal Detection Theory

Signal Detection Theory is a means to quantify the ability to discern between information-bearing patterns and random patterns that distract from the information.

Personal Expectations

Refers to individual beliefs about the likelihood of achieving future outcomes or events, deeply influencing personal goals, behavior, and achievement.

Sexual Orientation

An enduring sexual attraction toward members of one’s own sex (homosexual orientation), the other sex (heterosexual orientation), or both sexes (bisexual orientation).