Hot Student Stories
The point where supply and demand meet and prices are set is called coordination. correspondence. equality. equilibrium.
1 answer
Add you answer
Wanna comment?
Please Sign In / Sign Up
The point at which the supply and demand and prices are set is called balance. Equilibrum is the state in which market supply and demand balance each other and, as a result, prices become stable. Usually, when there is excess supply of goods or services, the price low, which results in a higher demand. The effect of balancing supply and demand results in a state of equilibrium.