Consider a Graph in Which Demand and Supply Intersect

question 35

Multiple Choice

Consider a graph in which demand and supply intersect.What would the point of intersection be called?

• A) quantity
• B) price
• C) availability
• D) market price equilibrium
• E) full cost pricing

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Definitions:

Direct Operating

Expenses directly associated with the day-to-day operations of a business, such as costs for materials and labor used in producing goods or services.

Sporting Goods Department

A section within a retail store or company that specializes in selling equipment and apparel for various sports and outdoor activities.

Direct Expense

A cost that can be directly traced to producing specific goods or services, such as raw materials and labor.

Profit Center

A segment of a business that is responsible for generating its own revenue and profit.