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777dan777 [17]
2 years ago
12

1. The point at which quantity demanded and quantity supplied are equal:______

Business
1 answer:
salantis [7]2 years ago
8 0

Answer:

1. Market Equilibrium, 2. Interest Rate, 3. Rationing, 4. Supply Shock, 5. Excess Supply, 6. Excess Demand, 7. Price Floor

Explanation:

1. The point at which quantity demanded and quantity supplied are equal: <u>Market Equilibrium </u>

2. The financial and opportunity costs consumers pay in searching for a good or service : <u>Interest Rate </u>

3. A system of allocating scarce goods and services by criteria other than price: <u>Rationing </u>

4.  A sudden drop in the supply of a good: <u>Supply (decrease - leftward shift) shock </u>

5. Any situation in which quantity supplied exceeds quantity demanded: <u>Excess Supply  </u>

6. Any situation in which quantity demanded exceeds quantity supplied: <u>Excess Demand </u>

7. A government-mandated minimum price that must be paid for a good or service: <u>Price Floor (Minimum Support Price)</u>

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