Market equilibrium

When quantity demand smaller than quantity supply the price will usually?

• increase

• decrease

• remain the same

• equilibrium

What is the Equilibrium Price?

• 1
• 2
• 3
• 4

What is the Equilibrium Quantity?

• 50
• 60
• 70
• 80

When quantity supplied is smaller than quantity demanded, you have a ____________.

• shortage

• surplus

• deficit

• equilibrium

Point at which supply and demand curve intersect each other

• price ceiling

• excess demand

• equilibrium

• disequilibrium

Equilibrium price is the price at which the quantity of a product demanded by consumers and the quantity supplied by producers

• are different.
• are equal.
• is higher for the product demanded.
• is higher for the product supplied.

What is the equilibrium quantity in this graph?

• $1.50
• $1.00
• 600
• 800

Equilibrium in a market means which of the following?

• the point at which quantity supplied and quantity demanded are the same
• the point at which unsold goods begin to pile up
• the point at which suppliers begin to reduce prices

Any price where quantity demanded is not equal to the quantity supplied is known as disequilibrium.

• true

• false

When demand increases, the equilibrium price and quantity supplied will both

• increase

• decrease

• stay the same