The price of any good adjusts until quantity demanded equals quantity supplied.

Name: The price of any good adjusts until quantity demanded equals quantity supplied.
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Quizplus · Accepted Answer

This is known as the law of supply and demand. When the market price is too high, quantity supplied exceeds quantity demanded and prices must fall. When the market price is too low, quantity demanded exceeds quantity supplied and prices must rise. The equilibrium price is the point where quantity demanded equals quantity supplied.

The Price of Any Good Adjusts Until Quantity Demanded Equals