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Social StudiesSocial Studies
7 September, 15:11

1. What is the equilibrium price?

2. What is a surplus?

3. What is a shortage?

4. Why are prices sometimes fixed?

5. What is a price ceiling?

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Answers (1)
  1. 7 September, 15:39
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    1. a state in which opposing forces or influences are balanced.

    2. an amount of something left over when requirements have been met; an excess of production or supply over demand.

    3. a state or situation in which something needed cannot be obtained in sufficient amounts.
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