Another term for equilibrium would be:
A)a point of infinite supply.
B)a point of insatiable wants.
C)a point of stability.
D)a point of scarcity.

Question

Quizplus · Accepted Answer

Equilibrium refers to a state of balance, stability or harmony. Therefore, the best choice to describe equilibrium would be C. Option A, infinite supply, does not accurately reflect equilibrium as equilibrium implies a balance between supply and demand. Option B, insatiable wants, refers to a situation where demand exceeds supply, which is not reflective of equilibrium. Option D, scarcity, is the opposite of equilibrium as it refers to a situation where there is a shortage of supply relative to demand. Equilibrium refers to a state of balance or stability between supply and demand, where there is no shortage or surplus of goods or services. Therefore, the correct term to describe equilibrium is "a point of stability." Options A, B, and D do not accurately describe the concept of equilibrium.

Another Term for Equilibrium Would Be