1. Define "equilibrium price" and name the mechanism for setting this price in a free- market system.

Economic theory suggests that, in a free market there will be a single price which brings demand and supply into balance, called equilibrium price. Both parties require the scarce resource that the other has and hence there is a considerable incentive to engage in an exchange.

the correct answer is d: "party organizers, volunteers, voters, and elected officials."

party organizers: individuals responsible for designing strategies in order to better execute the political campaign. this includes the candidate's public relations. volunteers: individuals responsible for raising awareness regarding the candidates running for office.voters: individuals who are convinced by volunteers that a particular candidate is the best option.elected officials: winning candidate and his elected team are a product of a successful political campaign.