When a market operates so that there are no shortages and no surpluses,then the market is

Question

Quizplus · Accepted Answer

When a market is in equilibrium, it means that the quantity demanded by buyers is equal to the quantity supplied by sellers, resulting in no shortages or surpluses. The market is operating efficiently without the need for non-market intervention. Thus, option B is the correct answer. Option A may not necessarily mean there is no shortage or surplus, and options C and D imply the market is not efficient.

When a Market Operates So That There Are No Shortages