AnswersAISD Economics 2026-27Resources and Scarcity

Determining Market Price Answers

0 verified answers1 views
1
Free Preview

Both excess supply and excess demand are a result of

A
equilibrium.
B
disequilibrium.
C
overproduction.
D
elasticity.
2
Free Preview

The graph shows excess supply.Which needs to happen to the price indicated by p2 on the graph in order to achieve equilibrium?

Question illustration
A
It needs to be increased.
B
It needs to be decreased.
C
It needs to reach the price ceiling.
D
It needs to remain unchanged.
3

The graph shows excess demand.Which explains why the price indicated by p2 on the graph is lower than the equilibrium price?

Question illustration
A
As prices fall, quantity demanded goes up.
B
As prices fall, quantity demanded goes down.
C
As prices fall, quantity demanded stays the same.
D
As prices fall, quantity demanded disappears.
4

On a graph, an equilibrium point is where

A
a supply curve and a demand curve meet.
B
a supply curve is higher than a demand curve.
C
the supply and demand curves head up.
D
the supply and demand curves head down.
5

Equilibrium is defined when

A
supply is limited and demand decreases.
B
supply and demand meet.
C
demand is higher than supply.
D
supply is higher than demand.
6

A car dealer who does not have enough customers for a supply of new cars faces

A
equilibrium.
B
disequilibrium.
C
coordination.
D
excess demand.
7

The graph shows a point of equilibrium.How many goods must be supplied to achieve equilibrium?

Question illustration
A
15
B
20
C
25
D
30
8

The graph shows a point of equilibrium.What does "P" represent on the graph?

Question illustration
A
the point where equilibrium is achieved
B
the price at the equilibrium point
C
the average price of goods sold
D
the point where supply and demand drop
9

The graph shows excess demand.Which needs to happen in order to stop disequilibrium from occurring?

Question illustration
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.
10

Supply and demand coordinate to determine prices by working

A
together.
B
competitively.
C
with other factors.
D
separately.

Did you find these answers helpful?

More from this Course

Quiz
10 verified answers

Resources and Scarcity

Quiz
10 verified answers

Resources and Scarcity

Quiz
10 verified answers

Pre-Test

Determining Market Price Answers — AISD…