The Equilibrium Price Is a Point at Which Buyers' Demand

question 23

True/False

The equilibrium price is a point at which buyers' demand for a product and sellers' supply of it are in balance.

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Definitions:

Gastrulation

Process in embryonic development during which the three germ layers (ectoderm, mesoderm, and endoderm) form.

Blastula

An early stage of embryonic development in animals, characterized by a spherical layer of cells (blastomeres) surrounding a fluid-filled cavity (blastocoel).

Morula

An early embryo consisting of a solid ball of cells.

Gastrula

A three-layered embryo formed by the process of gastrulation.