Which of the following is NOT a characteristic of a market in equilibrium?
A)Excess supply is zero.
B)All consumers are able to purchase an amount equal to their quantity demanded.
C)Excess demand is zero.
D)The equilibrium price is stable, i.e., there is no pressure for it to change.

Question

Quizplus · Accepted Answer

While all other options (A, C and D) are characteristics of a market in equilibrium, option B is not necessarily true as not all consumers are able to purchase an amount equal to their quantity demanded. This is because some consumers may not be able to afford to purchase the good or service at the equilibrium price.

Which of the Following Is NOT a Characteristic of a Market