Which Occurs During Market Equilibrium? Check All That Apply

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Which occurs during market equilibrium? Check all that apply.

  • Supply and demand meet at a specific price.
  • Supply is slightly greater than demand.
  • Supply and demand meet at a specific quantity.
  • Supply and demand meet at a demand point.
  • Supply and demand meet at a supply point.

Answer:

Supply and demand meet at a specific quantity.

Supply and demand meet at a specific price.

Explanation

An equilibrium condition is reached when market demand and supply are in balance, resulting in stable prices. When there is an over-supply of items or services, price drops occur as a result of the over-supply, leading to greater demand. An undersupply or shortage, on the other hand, causes prices to rise as a result of less demand. Supply and demand are in equilibrium as a consequence of the balancing influence of supply and demand.

When the market supply and the market demand are equal, then a market equilibrium occurs. This then implies that supply and demand meet at a specific price and at a specific quantity at market equilibrium. Supply and demand meet at a specific price. Supply and demand meet at a specific quantity.

At market equilibrium, the supply and demand curves meet to determine a point at which quantity demanded equals quantity supplied. The equilibrium price is determined at this intersection, as well as the equilibrium amount of goods.

Both excess supply and excess demand are a result of
disequilibrium.
On a graph, a(n) shows the demand portion of equilibrium.
demand curve
How many goods must be supplied to achieve equilibrium?
15
Disequilibrium occurs when
supply and demand are out of balance.
Which occurs during market equilibrium? Check all that apply.

Supply and demand meet at a specific quantity.

Supply and demand meet at a specific price.

Which needs to happen to the price indicated by p2 on the graph in order to achieve equilibrium?
It needs to be decreased.
Supply and demand coordinate to determine prices by working
together
A limited amount of goods available means that excess is occurring.
demand
What happens when the quantity of goods is higher than demand?
excess supply
On a graph, an equilibrium point is where
a supply curve and a demand curve meet.

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