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WorksheetsMarket equilibrium
Total questions: 14
Worksheet time: 7mins
When quantity demand smaller than quantity supply the price will usually?
increase
decrease
remain the same
equilibrium
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
The demand function and supply function for a good in the market are as follows:
Qd = 140 - 10p
Qs = 20 + 10p
What is the Pe?
Rm60
Rm80
Rm8
Rm6
The demand function and supply function for a good in the market are as follows:
Qd = 140 - 10p
Qs = 20 + 10p
What is the Qe?
80
200
60
220
Which of the following is a way that a firm can eliminate a surplus?
raise prices
create a new product
offer a sale on the item
What will happen if there is more supply in the market than there is a demand of the product?
shortage
surplus
equilibrium
A shortage causes prices to fall as the demand for a good is greater than the supply of that good.
TRUE
FALSE
