For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (permanent/temporary).
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Definitions:
Market Demand
The overall sum of a particular good or service that every customer in a market is eager and able to acquire at a range of prices.
Equilibrium Price
The market price at which the quantity demanded equals the quantity supplied, leading to market equilibrium.
Purely Competitive Market
A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price-taking behavior.
Total Revenue
The total amount of money a company receives from its goods or services over a certain period of time.
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