The Term Facultative Refers to

question 75

Multiple Choice

The term facultative refers to

• A)using oxygen for metabolism.
• B)using light for energy production.
• C)existing in a very narrow niche.
• D)the ability to exist in a wide range of conditions.
• E)using chemicals for energy production.

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Definitions:

Equilibrium Price

The price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific point in time.

Supply

The number of products—goods and services—that businesses are willing to sell at different prices at a specific time.

Demand

The number of goods and services that consumers are willing to buy at different prices at a specific time.

Profits

The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.