When We Plot a Supply Curve and a Demand Curve

question 62

Multiple Choice

When we plot a supply curve and a demand curve for apples on one graph, the point at which the two points intersect is the _____.

• A) stable price
• B) consumer price index
• C) gross product
• D) equilibrium price

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Definitions:

Encoding

The process by which information is transformed into a format that can be stored in memory, an initial step in memory formation.

Short-Term Memory

A cognitive system with a limited capacity that is capable of temporarily holding information available for processing. Short-term memory is essential for day-to-day tasks such as reasoning and decision-making.

Chunking

A process by which individual pieces of information are bound together into a meaningful whole, often to improve memory retention.

Short-Term Memory

The capacity to hold a small amount of information in an active, readily available state for a short period of time.