Determining Market Price Answers
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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.3
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What happens when the quantity of a good supplied at a given price is greater than the quantity demanded?
A
excess supplyB
stable pricesC
exact equilibriumD
increased production4
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
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.Did you find these answers helpful?
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