The price at which the quantity of goods demanded and the quantity of goods supplied are equal is referred to as ________.
A) the equilibrium price
B) consumer equality price
C) the deal-maker price
D) the fixed point price

Question

Quizplus · Accepted Answer

The equilibrium price is the point where the quantity of goods demanded by consumers is equal to the quantity of goods supplied by producers. This is also known as market clearing price or the price point where there is no excess supply or demand. Hence, option A is the correct answer. Option B and C are not commonly used terms, and option D does not accurately describe the price point of equilibrium.

The Price at Which the Quantity of Goods Demanded and the Quantity