Determining Market Price

Question 1

What is the point at which supply and demand intersect?

Revolt · Accepted Answer

A: equilibrium point

Question 2

Choose whether each scenario demonstrates equilibrium, surplus, or shortage.. The price of a product has dropped greatly, and store owners do not have enough of the item to meet demand. Demand for a new truck is beginning to increase, but car dealerships still have too many of these trucks on their lots. The price for a popular holiday toy has risen too high, and consumers are not purchasing items in stock on store shelves.

Revolt · Accepted Answer

B: shortage

Question 3

Match each term with the correct part of the graph. Demand curve Supply curve Equilibrium point

Revolt · Accepted Answer

Selection 1: B; Selection 2: A; Selection 3: C

Question 4

Question 4

Revolt · Accepted Answer

B

Question 5

Question 5

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

Question 7

Revolt · Accepted Answer

C: surplus

Question 8

Question 8

Revolt · Accepted Answer

309644

Question 9

Question 9

Revolt · Accepted Answer

B: demand

Question 10

Question 10

Revolt · Accepted Answer

B: fall

Determining Market Price Answers

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