When a Market Is Not in Equilibrium

question 82

Multiple Choice

When a market is not in equilibrium,

• A) government intervention is required to achieve equilibrium.
• B) consumers will organize into special interest groups to promote their agenda.
• C) firms will increase contributions to political action committees.
• D) the economic motives of sellers and buyers will move the market to its equilibrium.
• E) it will simply stay in a state of disequilibrium.

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Definitions:

Habitable Condition

The requirement that a living space must meet certain standards of safety and livability as defined by law.

Lease Abandonment

The act of a tenant leaving a leased property before the lease term has ended, without intent to return and without the landlord's agreement.

Landlord Accepts

The act of a landlord agreeing to terms, often referring to lease agreements or accepting conditions related to property occupancy or repair.

Obligation to Pay Rent

A legal duty of a tenant to pay the agreed-upon rental amount to the landlord for the use of property.