What can be used to determine relationships among different levels of demand and supply,based on price?
A) Market economies
B) Degrees of competition
C) Surplus to shortage relationships
D) Demand and supply curves
E) Private enterprise competition

Question

Quizplus · Accepted Answer

Demand and supply curves can be used to determine the relationships between different levels of demand and supply based on price. By analyzing the point where the demand and supply curves intersect, we can determine the market equilibrium price and quantity. This information can also help us understand the surplus or shortage of goods at different price levels.

What Can Be Used to Determine Relationships Among Different Levels