at the market price for a product, quality demanded equals the quantity supplied. there is no excess demand and no excess supply. what economic term describes this?

Question

anonymous · Answer

A. supply market
B. market equality
c. demand market

anonymous · Answer

d. market clearing

anonymous · Answer

@pielover123  what do you think? @jagr2713

jagr2713 · Answer

In economics, market clearing is a simplifying assumption made by new classical economics that in any given market, prices and resulting volumes always adjust up or down such that quantity supplied at the market-clearing price equals the quantity demanded at the market-clearing price.

anonymous · Answer

so is it D.?

jagr2713 · Answer

idk i think so but i am not sure

anonymous · Answer

correct! thanks

anonymous · Answer

GTG going offline i have to hit the hay night