The Equilibrium Point Represents the Only Price-Quantity Combination in a Market

question 166

Multiple Choice

The equilibrium point represents the only price-quantity combination in a market that

• A)causes both buyers and sellers to agree to a price increase
• B)causes both buyers and sellers to agree to a price decrease
• C)exactly matches the independent plans of buyers and sellers
• D)allows buyers to purchase what they want
• E)allows sellers to earn a profit

---

Definitions:

Knowledgeable

Describing someone who possesses a thorough or deep understanding of a particular subject or subjects.

Human Resource Planning

The process of forecasting an organization's future demands for and supply of the right type of people in the right number.

Small Firms

Companies or businesses with a limited number of employees and a smaller footprint in their respective markets, often characterized by more flexible operations and less formal structures compared to larger corporations.

Informal Forecasting Techniques

These are non-structured, qualitative methods of predicting future events or outcomes based on intuition, experience, or informal analysis.