ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the price set by the government
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the price at which supply equals demand
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the price at which exports equal imports
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the price set by the foreign exchange rate
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Detailed explanation-1: -The equilibrium price is where the supply of goods matches demand. When a major index experiences a period of consolidation or sideways momentum, it can be said that the forces of supply and demand are relatively equal and the market is in a state of equilibrium.
Detailed explanation-2: -An equilibrium price is a balance of demand and supply factors. There is a tendency for prices to return to this equilibrium unless some characteristics of demand or supply change. Changes in the equilibrium price occur when either demand or supply, or both, shift or move.
Detailed explanation-3: -Equilibrium is a point when at a given price, quantity demanded is equal to quantity supplied and equilibrium can be attained only at that point. If at a given price, supply is more, it will show excess supply and if demand is greater, it will show excess demand.
Detailed explanation-4: -2:The equilibrium price clears the market: It is the price at which quantity demanded equals quantity supplied with excess demand is zero.
Detailed explanation-5: -Market Equilibrium: Where Supply Meets Demand Equilibrium is the point where demand for a product equals the quantity supplied. This means that there’s no surplus and no shortage of goods.