What is the quantity supplied and demanded at the equilibrium price called?

What is the quantity supplied and demanded at the equilibrium price called?

• A. Total Output
• B. Price Level
• C. Equilibrium Quantity
• D. Market Demand

Answer: (C)

The concept here is the quantity that is bought and sold when the market is balanced. At the equilibrium price, the amount producers are willing to supply equals the amount consumers are willing to demand, and that shared amount is the equilibrium quantity. It sits right at the intersection of the supply and demand curves, the point where the market clears. If the price were higher, a surplus would occur—more would be produced than people want to buy. If the price were lower, a shortage would occur—there wouldn’t be enough to meet buyers' demand. The other terms don’t describe this specific traded amount: total output is overall production, the price level is the general price snapshot in the economy, and market demand is the entire relationship showing how much buyers would buy at each price, not the one quantity exchanged at equilibrium.

The concept here is the quantity that is bought and sold when the market is balanced. At the equilibrium price, the amount producers are willing to supply equals the amount consumers are willing to demand, and that shared amount is the equilibrium quantity. It sits right at the intersection of the supply and demand curves, the point where the market clears. If the price were higher, a surplus would occur—more would be produced than people want to buy. If the price were lower, a shortage would occur—there wouldn’t be enough to meet buyers' demand. The other terms don’t describe this specific traded amount: total output is overall production, the price level is the general price snapshot in the economy, and market demand is the entire relationship showing how much buyers would buy at each price, not the one quantity exchanged at equilibrium.