Determining Market Price Quiz 100% Accurate
Which explains the connection between the law of demand and excess demand?
The law states that decreases in price leads to greater quantity demanded and
limited supply, which occurs during excess demand
The law states that increases in price increases leads to greater quantity
demanded and limited supply, which occurs during excess demand
The law states that decreases in price leads to greater supply and equilibrium,
which occurs during excess demand
The law states that increases in price leads to greater supply and equilibrium,
which occurs during excess demand
The law states that decreases in price leads to greater quantity demanded and limited
supply, which occurs during excess demand
On a graph, an equilibrium point is where
A supply curve and a demand curve meet
A supply curve is higher than a demand curve
The supply and demand curves head up
The supply and demand curves head down
A supply curve and a demand curve meet
What happens when the quantity of a good supplied at a given price is greater
than the quantity demanded?
Excess supply
Stable prices
Exact equilibrium
Increased production
Excess supply
The graph shows demand
In order to achieve
equilibrium, what else must be included on the graph?
Disequilibrium
Supply curve
Excess supply
Excess demand
Supply curve
The graph shows excess demand
Which needs to happen in order to stop disequilibrium from occurring?
Q needs to be coordinated with supply
Q needs to be coordinated with demand
Which explains the connection between the law of demand and excess demand?
The law states that decreases in price leads to greater quantity demanded and
limited supply, which occurs during excess demand
The law states that increases in price increases leads to greater quantity
demanded and limited supply, which occurs during excess demand
The law states that decreases in price leads to greater supply and equilibrium,
which occurs during excess demand
The law states that increases in price leads to greater supply and equilibrium,
which occurs during excess demand
The law states that decreases in price leads to greater quantity demanded and limited
supply, which occurs during excess demand
On a graph, an equilibrium point is where
A supply curve and a demand curve meet
A supply curve is higher than a demand curve
The supply and demand curves head up
The supply and demand curves head down
A supply curve and a demand curve meet
What happens when the quantity of a good supplied at a given price is greater
than the quantity demanded?
Excess supply
Stable prices
Exact equilibrium
Increased production
Excess supply
The graph shows demand
In order to achieve
equilibrium, what else must be included on the graph?
Disequilibrium
Supply curve
Excess supply
Excess demand
Supply curve
The graph shows excess demand
Which needs to happen in order to stop disequilibrium from occurring?
Q needs to be coordinated with supply
Q needs to be coordinated with demand
