What is achieved when supply meets demand?

Question

Relative price
market price
equilibrium price
quantity price

Answer 1

Equilibrium price is achieved when supply meets demand. This is the price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers. At this price, there is neither a shortage nor a surplus of the product, and the market is in balance.

Answer 2

A B C OR D

Answer 3

D. equilibrium price