Determining Market Price example #69450

29 December 2022

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9 test answers

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question

coordinate

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to work together to meet a goal

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equilibrium

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the point where supply and demand meet and prices are set

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excess demand

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when the quantity demanded, at a given price, is higher then the quantity supplied

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excess supply

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when the quantity supplied, at a given price, is higher then the quantity demanded

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On a graph, a(n) ___________ supply shows the demand portion of equilibrium.

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demand curve

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What happens when the quantity of goods is higher than demand?

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excess supply

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On a graph, an equilibrium point is where

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a supply curve and a demand curve meet

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Disequilibrium occurs when

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supply and demand are out of balance

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Supply and demand coordinate to determine prices by working

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together