A Market Is Said to Be in Equilibrium When

question 164

Multiple Choice

A market is said to be in equilibrium when

• A)Demand is fully satisfied at all alternative prices.
• B)The buying intentions of all consumers are realized.
• C)The supply intentions of all sellers are realized.
• D)The quantity demanded equals the quantity supplied.

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Definitions:

Subsidence

the gradual sinking of land or a structure, often due to natural underground processes.

Uplift

The vertical elevation of the Earth's surface due to natural causes, such as tectonic movements or volcanic activity.

Oceanic Crust

The relatively thin part of the Earth's crust that underlies the ocean basins, composed largely of basalt and gabbro.

Thickness

The measure of how broad or wide a layer or feature is from one side to the other, often used in geological contexts to describe rock layers.