Determining Market Price

Question 1

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

Revolt · Accepted Answer

A: equilibrium point

Question 2

[___] The price of a product has dropped greatly, and store owners do not have enough of the item to meet demand.

Revolt · Accepted Answer

B: shortage

Question 3

[___] Demand curve

Revolt · Accepted Answer

A: A

Question 4

On this graph, the equilibrium point occurs at which price?

Revolt · Accepted Answer

B: $9

Question 5

equilibrium✔ disequilibrium

Revolt · Accepted Answer

B: disequilibrium

Question 6

"A" represents the new quantity demanded, while "B" represents the new quantity supplied. What is the result of these changes? Based on this graph, what will prices most likely do?

Revolt · Accepted Answer

B: excess supply

Question 7

Demand for a new truck is beginning to increase, but car dealerships still have too many of these trucks on their lots.

Revolt · Accepted Answer

C: surplus

Question 8

[___] Supply curve

Revolt · Accepted Answer

B: B

Question 9

supply✔ demand

Revolt · Accepted Answer

B: demand

Question 10

rise✔ fallstay the same

Revolt · Accepted Answer

B: fall

Determining Market Price Answers

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