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AssignmentMultiple Choice

Determining Market Price

Question 1 • (Galli)WCA 2221 Civics/Economics 1st nine weeks 26-27

What is the point at which supply and demand intersect?equilibrium pointdisequilibrium pointexcess supply pointexcess demand point

Answer
A
equilibrium point
B
disequilibrium point
C
excess supply point
D
excess demand point

Explanation

Supply and demand intersect where the quantity sellers are willing to supply equals the quantity buyers are willing to demand. This is called the equilibrium point, so the correct choice is “equilibrium point.”

AI-written and checked against the verified answer.

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