The Guiding Function of Prices Indicates That, at Equilibrium Prices

question 103

True/False

The guiding function of prices indicates that, at equilibrium prices, neither product surpluses nor shortages can occur.

---

Definitions:

Algorithm

A step-by-step procedure for calculations, data processing, and automated reasoning tasks.

Sort Method

A function or algorithm that arranges elements of a list or array in a certain order, typically numerical or lexicographical.

General-purpose

Describes software or languages that are designed to be applicable for a wide variety of tasks and problems, rather than specialized for a specific domain.

Sequential Search

Sequential search is a straightforward searching algorithm that checks every element in a list, one at a time and in sequence, until the target element is found or the list ends.