the point where supply and demand come together

supply, demand, and equilibrium Flashcards

1

One well-known price floor is the.................

2

The quantity of a product demanded equals the quantity supplied is called market equilibrium

3

equalibrium is...

4

The market price and quantity depends on...demand and supply

5

____ is the maximum price that can be legally charged for a good

6

______ occurs when quantity supplied is NOT equal to quantity demanded in a market

supply, demand, and equilibrium