A Market Comprised of a Downward-Sloping Demand Curve That Intersects

question 49

Multiple Choice

A market comprised of a downward-sloping demand curve that intersects an upward-sloping supply curve is said to be stable because:

• A)price will never change.
• B)quantity will never change.
• C)demand will never change.
• D)at any price other than equilibrium, forces in the market move price towards the equilibrium.

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Definitions:

Market Price

The prevailing market rate at which a service or asset is available for purchase or sale.

Balanced Scorecard

A strategic planning and management system used by organizations to translate mission and vision statements into operational objectives and performance metrics across four perspectives: financial, customer, internal processes, and learning and growth.

Incentive Plan

A business strategy designed to motivate and reward employees in order to achieve higher levels of performance.

Organization's Goals

Objectives set by a company or an organization to guide its operations, steer its overall direction, and measure its performance over time.