-In the Above Graphs a Direct Relationship Is Shown by

question 318

Multiple Choice

-In the above graphs a direct relationship is shown by

• A) Graph A.
• B) Graph B.
• C) Graph C.
• D) Graph D.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service supplied is equal to the quantity demanded, resulting in no net surplus or shortage in the market.

Natural Gas

A fossil fuel used as a source of energy for heating, cooking, and electricity generation, consisting primarily of methane.

Supply And Demand

The fundamental economic model that explains the interaction between the quantity of a good or service that producers wish to sell and the quantity that consumers wish to buy.

Standardized Product

A product that is uniform in quality and characteristics, produced in large volumes, and by many different firms.