A Market for a Product Reaches Equilibrium When

question 14

Multiple Choice

A market for a product reaches equilibrium when

• A) the actual quantity bought by buyers equals actual quantity sold by sellers.
• B) the price rises further after there is a surplus.
• C) buyers intend to buy a quantity equal to the quantity that sellers intend to sell.
• D) price falls further after there is a shortage.

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Definitions:

Double Jeopardy

A legal principle that prevents an individual from being tried twice for the same offense.

Same Crime

The principle that individuals committing the same offense should receive equal treatment and punishment under law.

Tried Twice

Being subjected to prosecution for the same offense in the same jurisdiction more than once, prohibited under the "double jeopardy" clause of the Fifth Amendment to the U.S. Constitution.

Civil Rights Act

A landmark piece of legislation in the United States that outlaws discrimination based on race, color, religion, sex, or national origin.