O-LevelEconomicsThe allocation of resources2281/12 · Oct/Nov 2014 · Q51 Mark

What is meant by the equilibrium quantity in the market for a product?

Athe average quantity produced over the year

Bthe average quantity sold over the year

Cthe quantity at which profit occurs

Dthe quantity at which the demand and supply curves intersect

✓ Correct answer

D: the quantity at which the demand and supply curves intersect

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2014 Paper 1 Variant 2, question 5.

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