Determining Market Price Answers
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Disequilibrium occurs when
A
quantity supplied is equal to quantity demanded.B
quantity supplied does not equal quantity demanded.C
supply coordinates with price.D
supply coordinates with quantity.2
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Which occurs during market equilibrium? Select two options.
A
Supply and demand meet at a specific price.B
Supply is slightly greater than demand.C
Supply and demand meet at a specific quantity.D
Supply and demand meet at a demand point.E
Supply and demand meet at a supply point.3
A limited amount of goods available means that excess is occurring.
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4
The graph shows excess demand.Which needs to happen in order to stop disequilibrium from occurring?
A
Q needs to be coordinated with supply.B
Q needs to be coordinated with demand.C
The price of goods needs to be increased.D
The price of goods needs to be decreased.5
Equilibrium is defined when
A
supply is limited and demand decreases.B
supply and demand meet.C
demand is higher than supply.D
supply is higher than demand.6
The graph shows a point of equilibrium.If the quantity supplied is greater than the quantity demanded, what must happen to the price in order to reach equilibrium?
A
The price of the product will increase to meet equilibrium.B
The price of the product will decrease to meet equilibrium.C
Supply and demand must be raised.D
Supply and demand must be lowered.Did you find these answers helpful?
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