Question

The point where supply and demand meet and prices are set is called coordination. correspondence. equality. equilibrium.

Answer 1

The point where the demand and supply meet and the prices are set is called equilibrium point. Economic equilibrium point is a point where the supply equals to the demands for a products, with the equilibrium price existing where the hypothetical supply and demand curves intersect.

Answer 2

The point where supply and demand meet and prices are set is called equilibrium. Equilibrum is the state in which market supply and demand balance each other and, as a result, prices become stable. Generally, when there is too much supply for goods or services, the price goes down, which results in higher demand. The balancing effect of supply and demand results in a state of equilibrium.