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

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

shortage; Selection 1: shortage; Selection 2: surplus; Selection 3: surplus

Question 3

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

surplus

Question 4

[___] 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

surplus

Question 5

[___] Demand curve

Revolt · Accepted Answer

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

Question 6

[___] Supply curve

Revolt · Accepted Answer

B

Question 7

[___] Equilibrium point

Revolt · Accepted Answer

C

Question 8

equilibrium✔ disequilibrium

Revolt · Accepted Answer

disequilibrium

Question 9

supply✔ demand

Revolt · Accepted Answer

demand

Question 10

lower prices✔ higher prices

Revolt · Accepted Answer

higher prices

Determining Market Price Answers