The unique point at which the supply and demand curves intersect is called

Question

Quizplus · Accepted Answer

The unique point at which the supply and demand curves intersect is called equilibrium. At this point, the quantity supplied by sellers will exactly match the quantity demanded by buyers, resulting in a balance between the two forces of supply and demand. This balance is represented by a specific price, known as the equilibrium price, which is the only price at which both buyers and sellers are satisfied with their transactions. Thus, option D is the correct answer.

The Unique Point at Which the Supply and Demand Curves