Scelta multipla
For which of the following products would exclusive distribution be most appropriate?
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3. Supply and Demand
Overview of Supply and Demand Shifts
Scelta multipla
In the context of market equilibrium, all retailers strive for supply to be _______ to demand.
A
greater
B
equal
C
unrelated
D
less
Guida verificata passo dopo passo1
Understand the concept of market equilibrium, which occurs when the quantity supplied by sellers equals the quantity demanded by buyers.
Recall that in equilibrium, there is no excess supply (surplus) or excess demand (shortage) in the market.
Recognize that if supply were greater than demand, a surplus would occur, causing prices to fall.
Recognize that if supply were less than demand, a shortage would occur, causing prices to rise.
Therefore, in market equilibrium, retailers strive for supply to be equal to demand to maintain a stable market price.
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