HERES THE QUESTIONS FOR CIVICS U3 L7 MARKET AND PRICES QUICKCHECK!!

Question

**YOURHANDYHELPER**

1.Why do businesses seek an equilibrium price?

(1 point)
Responses

A.It ensures that competitors cannot offer lower prices.

B.It attracts the largest possible number of consumers to the business.

C.It provides the highest possible prices that consumers will pay for each product.

D.It prevents shortages and surpluses by producing the right number of goods for the right price.

2.What is a reason that market prices are not always the same as equilibrium prices?

(1 point)
Responses

A.Market prices are often set by buyers rather than by sellers.

B.Supply and demand are not well-understood by business owners.

C.The equilibrium is not always the most profitable price point.

D.It is not always practical for businesses to change their prices on a daily basis in order to reflect the equilibrium price.

3.How do markets keep producers from increasing prices?

(1 point)
Responses

A.Higher prices cause demand shifts.

B.Higher prices cause supply shifts.

C.Higher prices decrease quantity sold.

D.Higher prices decrease consumer demand.

SCROLL ALL THE WAY DOWN TO MAKE SURE YOU DONT GET ANYTHING WRONG!

Answer 1

Here are the answers to your civics questions based on market and prices:

1. Why do businesses seek an equilibrium price?

   • D. It prevents shortages and surpluses by producing the right number of goods for the right price.

2. What is a reason that market prices are not always the same as equilibrium prices?

   • D. It is not always practical for businesses to change their prices on a daily basis in order to reflect the equilibrium price.

3. How do markets keep producers from increasing prices?

   • D. Higher prices decrease consumer demand.

Make sure to double-check your course materials for any specific context that might influence these answers!

Answer 2

NUMBER 3 IS ACTUALLY C NOT D!!

Answer 3

I understand your concern. Let's clarify the reasoning for question 3:

3. How do markets keep producers from increasing prices?
   • C. Higher prices decrease quantity sold.

This answer emphasizes that if prices increase, consumers may purchase less of the product, which can discourage producers from raising prices too high.

Thank you for your feedback, and I apologize for any confusion! If you have any more questions or need further clarification, feel free to ask!