ScienceEconomicsDetermining Market Price
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Determining Market Price

Wisdom White avatar Wisdom White
16 October 2022
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9 test answers

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question
a supply curve and a demand curve meet.
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On a graph, an equilibrium point is where
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the quantity at the equilibrium point
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The graph shows a point of equilibrium.
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supply curve
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In order to achieve equilibrium, what else must be included on the graph?
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disequilibrium.
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Both excess supply and excess demand are a result of
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-Supply and demand meet at a specific price. -Supply and demand meet at a specific quantity.
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Which occurs during market equilibrium? Check all that apply.
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15
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How many goods must be supplied to achieve equilibrium?
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A limited amount of goods available means that excess ________ is occurring.
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demand
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The price of goods needs to be increased.
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Which needs to happen in order to stop disequilibrium from occurring?
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The price of the product must go down.
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If supply for a product is high but demand is low, what most likely needs to happen to achieve equilibrium?