Question

which of the following best describes market equilibrium? the point where the supply and demand curves intersect the point where quantity demanded is greater than quantity supplied the point where there is excess supply of a product the point where quantity supplied is greater than quantity demanded

Explanation:

Market equilibrium occurs in economics when the quantity of a good that consumers want to buy (quantity demanded) matches the quantity that producers want to sell (quantity supplied). This matching point is visually represented by the intersection of the supply and demand curves on a graph. The other options describe disequilibrium scenarios: excess demand (quantity demanded > quantity supplied) or excess supply (quantity supplied > quantity demanded).

Answer:

the point where the supply and demand curves intersect