-On the Graph Above, at the Point Where Quantity Demanded

question 66

Multiple Choice

-On the graph above, at the point where quantity demanded equals quantity supplied (let's call it point A) , the economy has reached its ________.

• A) general equilibrium, and barring any shocks, it will not move from A
• B) long-run equilibrium, and barring any shocks, it will not move from A
• C) short-run equilibrium, and even without any shocks, it may move away from A
• D) short-run equilibrium, and barring any shocks, it will not move from A
• E) none of the above

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Definitions:

Human Capital

People’s skills, knowledge, experience, and general attributes.

Competitive Advantage

The edge that gives organizations a more beneficial position than their competitors and allows them to generate more profits and retain more customers.

Inimitability

The quality of being impossible to copy or imitate, often contributing to a competitive advantage.

Organizational Behavior

studies how individuals and groups interact within a company and how these interactions affect the organization's functioning.