Question

Drag and drop the terms with the definitions.


Consumers buy and producers sell this amount at the equilibrium price.


Supply is greater than demand whenever this market condition exists.


The marginal utility tends to decrease as consumption increases.


The state of a market when quantity demanded is equal to the quantity supplied.


This price is the point of balance between quantity demanded and quantity supplied.


This is a consumer’s total benefit received from the consumption of a good or service.

Choices
market equilibrium
equilibrium quantity
total utility
equilibrium price
diminishing marginal utility
surplus

Answer 1

Here are the terms matched with their definitions:

1. **Consumers buy and producers sell this amount at the equilibrium price.**
- **equilibrium quantity**

2. **Supply is greater than demand whenever this market condition exists.**
- **surplus**

3. **The marginal utility tends to decrease as consumption increases.**
- **diminishing marginal utility**

4. **The state of a market when quantity demanded is equal to the quantity supplied.**
- **market equilibrium**

5. **This price is the point of balance between quantity demanded and quantity supplied.**
- **equilibrium price**

6. **This is a consumer’s total benefit received from the consumption of a good or service.**
- **total utility**