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Science
Economics
Determining Market Price example #69450
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Determining Market Price example #69450
Margaret Collins
29 December 2022
5
(110 reviews)
9 test answers
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(5)
question
coordinate
answer
to work together to meet a goal
question
equilibrium
answer
the point where supply and demand meet and prices are set
question
excess demand
answer
when the quantity demanded, at a given price, is higher then the quantity supplied
question
excess supply
answer
when the quantity supplied, at a given price, is higher then the quantity demanded
question
On a graph, a(n) ___________ supply shows the demand portion of equilibrium.
answer
demand curve
question
What happens when the quantity of goods is higher than demand?
answer
excess supply
question
On a graph, an equilibrium point is where
answer
a supply curve and a demand curve meet
question
Disequilibrium occurs when
answer
supply and demand are out of balance
question
Supply and demand coordinate to determine prices by working
answer
together
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