Asked by Nicholas Maynard on Jun 09, 2024

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A market's equilibrium is the point at which the supply and demand curves intersect.

Supply and Demand Curves

Graphical representations of the relationship between the prices and quantities of a good or service that suppliers are willing to offer and consumers are willing to purchase.

Equilibrium

A state in which demand and supply are balanced, often leading to a stable market condition.

Intersect

The point at which two or more lines, paths, or items meet or cross each other.

  • Perceive the connections among market equilibrium, surplus, and shortage.
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JM
James Martinez-BurneyJun 10, 2024
Final Answer :
True
Explanation :
At the equilibrium point in a market, the quantity of goods supplied equals the quantity demanded, which is represented by the intersection of the supply and demand curves.