INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 140

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-For most people,participation in the social security system is [voluntary | mandatory].

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

---

Definitions:

Demand Equation

A mathematical expression that illustrates the relationship between the quantity demanded of a good and its price, along with other factors influencing demand.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, creating a balance in the market.

Ticket Scalping

The practice of buying tickets for an event and reselling them at a higher price to earn a profit, often considered illegal or unethical.

Equilibrium Levels

The state in which market supply and demand balance each other, and as a result, prices become stable.