The Point at Which the Supply Curve and the Demand

question 164

Multiple Choice

The point at which the supply curve and the demand curve intersect on a graph is referred to as the ________.

• A) equilibrium price
• B) decision point
• C) surplus price
• D) perfect price

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Definitions:

Area Chart

A graph that plots quantitative data over time, similar to a line chart, but with the area beneath the line filled in to emphasize volume.

Scatter Diagram

A scatter diagram, or scatter plot, is a type of graph used in statistics to visually represent the relationship between two variables, with points plotted to show the value of one variable depending on the value of the other.

Logical Function

In computing and mathematics, a function that evaluates a set of conditions and returns a true or false value.

IF

A conditional statement used in programming that executes a specific segment of code if a given condition is true.