Another Term for the Equilibrium Price Is

question 329

Multiple Choice

Another term for the equilibrium price is

• A) ceteris paribus.
• B) black market.
• C) law of demand.
• D) market clearing price.

---

Definitions:

Comparable Worth

The concept advocating for equal pay for different jobs that are considered of equal value or worth.

Relative Poverty

Not having enough money to maintain an average standard of living.

Standard of Living

Refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a geographical area.

Absolute Poverty

Not having enough money to afford the basic necessities of life.