Examlex

Solved

A Private Industrial Network Is an Independently Owned Online Marketplace

question 41

True/False

A private industrial network is an independently owned online marketplace that connects many suppliers and buyers.


Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.

Surplus

An excess of production or supply over demand, often leading to a decrease in prices.

Shortage

A situation where the demand for a product exceeds the available supply, often leading to higher prices.

Equilibrium

The state in which market supply and demand balance each other, and as a result, prices become stable.

Related Questions