WAEC Economics 2018 Objective — Question 16
Question 16 of 50 from the West African Examinations Council (WAEC) Economics 2018 Objective paper, with the correct answer and a full explanation.
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A market is in equilibrium when
- A. there is no government intervention
- B. the demand is the same as the supplyCorrect
- C. buyers and sellers are free to sell more goods
- D. there is no free entry and exit
Explanation
Market equilibrium occurs when the quantity demanded equals the quantity supplied at a given price.
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