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

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

Revolt · Accepted Answer

B: $9

Question 3

[___] 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 4

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 5

[___] 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

C: surplus

Question 6

[___] Demand curve

Revolt · Accepted Answer

A: A

Question 7

[___] Supply curve

Revolt · Accepted Answer

B: B

Question 8

[___] Equilibrium point

Revolt · Accepted Answer

C: C

Question 9

equilibrium✔ disequilibrium

Revolt · Accepted Answer

B: disequilibrium

Question 10

supply✔ demand

Revolt · Accepted Answer

B: demand

Determining Market Price Answers