When Quantity Supplied Equals Quantity Demanded

question 31

Multiple Choice

When quantity supplied equals quantity demanded:

• A) equilibrium is reached.
• B) the market forces push the economy to produce more.
• C) the market forces push the economy to produce less.
• D) the market forces cease to function.

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Definitions:

Price Discrimination

Occurs when a seller charges two or more prices for the same good or service.

Clayton Act

A United States antitrust law passed in 1914, aimed at promoting competition by preventing unfair practices such as price discrimination and exclusive dealing agreements.

Sherman Act

The Sherman Act is a landmark U.S. antitrust law enacted in 1890 to combat anti-competitive practices and promote fair competition.

Federal Trade Commission Act

A United States federal law enacted in 1914 to promote consumer protection and eliminate and prevent anticompetitive business practices.