asked 141k views
3 votes
The piont where supply and demand meet prices are set is called

asked
User Sritmak
by
8.4k points

2 Answers

6 votes
the equilibrium point. In general, for any good, it is at this point that quantity supplied equals quantity demanded at a set price.
1 vote

The correct answer is;

The equilibrium point.

In general, for any good, it is at this point that quantity supplied equals quantity demanded at a set price.

Explanation:

Equilibrium is the state in which market equipment and demand balance each other and, as a result, prices become enduring. Generally, when there is excessively much supply for goods or assistance, the price moves down, which results in tremendous demand. The balancing influence of supply and demand appears in a state of equilibrium.

answered
User Vasyl Zhuryk
by
8.3k points

Related questions

asked Jan 5, 2024 75.0k views
Fan asked Jan 5, 2024
by Fan
7.0k points
1 answer
1 vote
75.0k views
1 answer
5 votes
72.0k views
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.