What is the Equilibrium Price?
Market equilibrium

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Business
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9th - 12th Grade
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Easy
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1.
FLASHCARD QUESTION
Front
Back
The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.
2.
FLASHCARD QUESTION
Front
What is the Equilibrium Quantity?
Back
70
3.
FLASHCARD QUESTION
Front
When quantity supplied is smaller than quantity demanded, you have a ____________.
Back
shortage
4.
FLASHCARD QUESTION
Front
Point at which supply and demand curve intersect each other
Back
equilibrium
5.
FLASHCARD QUESTION
Front
What is the equilibrium quantity in this graph? Options: $1.50, $1.00, 600, 800
Back
600
6.
FLASHCARD QUESTION
Front
A situation in which the quantity supplied is greater than the quantity demanded is
Back
a surplus
7.
FLASHCARD QUESTION
Front
Price is currently above equilibrium. This will create excess__________. We would expect price to ___________.
Back
supply; decrease
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