Market equilibrium

Point at which supply and demand curve intersect each other

Which of these demonstrates a surplus of goods?

Which of these demonstrates a shortage of goods?

Which of the following demonstrates price equilibrium?

A situation in which the quantity supplied is greater than the quantity demanded is

When quantity supplied is smaller than quantity demanded, you have a ____________.

If the current price is $800, which of the following would be the best description for the situation that exists in the market