Question

In a market without price controls, producers charge _____ for their goods and services. This price allows producers to supply the same amount of products as consumers demand.

Answer 1

Answer: Equilibrium price

Explanation:

Equilibrium price is known to be the price at which demand of goods and services balances supply. Furthermore, this is the price where suppliers supply the exact quantity of goods and services as demanded by the consumers in the market. Thus, the buyers and sellers are contented with demand and supply of products.

Answer 2

In a market without price controls, producers charge the equilibrium price for their goods and services. This price allows producers to supply the same amount of products as consumers demand.

The Equilibrium price is the price at which the quantity of a product offered is equal to the quantity of the product in demand. Both market forces of demand and supply operate in harmony at this point.