Which of the Following Is NOT a Characteristic of a Market

question 52

Multiple Choice

Which of the following is NOT a characteristic of a market in equilibrium?

• A)Excess supply is zero.
• B)All consumers are able to purchase an amount equal to their quantity demanded.
• C)Excess demand is zero.
• D)The equilibrium price is stable, i.e., there is no pressure for it to change.

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Definitions:

Code Of Ethics

A set of principles and standards that guide the behavior of a profession or group, promoting integrity and ethical conduct.

Fundamental Principles

Basic or core ideas, rules, or laws that form the foundation of a system of thought or belief.

Principle III

A specific guideline or rule within a set of principles, often used in scientific, ethical, or philosophical contexts, to dictate the conduct of activities within those fields.

Common Law

The law as stated in the decisions of the judges from the earliest times to the present.