CIPS L3M1 Exam - Topic 4 Question 14 Discussion

Actual exam question for CIPS's L3M1 exam

Question #: 14
Topic #: 4

Thinking about supply and demand, there is one price at which producers wish to sell the same amount as customers wish to buy: in other words, the market 'clears', without either a surplus of supply or unsatisfied demand. This price is called the - - - - - - - - price.

AEquidistant

BEquilibrium

CClearing

DEquivalium

Show Suggested Answer

Suggested Answer: D

The correct answer is, of course, 'monopoly'.

by Candida at Jul 03, 2024, 02:11 PM

Limited Time Offer

25%

Off

Get Premium L3M1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Renea

9 months ago

100% agree, equilibrium is the right term here.

upvoted 0 times

...

Mendy

9 months ago

Wait, are we sure it's not "equivalium"? Sounds fancy!

upvoted 0 times

...

Pearlie

10 months ago

Equidistant? That's not even a thing in economics!

upvoted 0 times

...

Talia

10 months ago

I thought it was the clearing price?

upvoted 0 times

...

Evangelina

10 months ago

It's definitely the equilibrium price!

upvoted 0 times

...

Malcolm

10 months ago

I’m torn between "Equilibrium" and "Clearing." I wish I had reviewed those definitions more closely!

upvoted 0 times

...

Reid

11 months ago

I feel like "Clearing" could also be a possibility, but it doesn't sound as right as "Equilibrium."

upvoted 0 times

...

Arthur

11 months ago

I remember practicing a question like this, and "Equilibrium" was definitely the term we used for the price where supply meets demand.

upvoted 0 times

...

Mitsue

11 months ago

I think the answer might be "Equilibrium," but I'm not entirely sure. It sounds familiar from our notes.

upvoted 0 times

...

Martha

11 months ago

Equilibrium, that's the one! I remember learning about that in class. The market clears at the equilibrium price where quantity supplied equals quantity demanded. Definitely B.

upvoted 0 times

...

William

11 months ago

Okay, let me think this through step-by-step. The question is asking about the price where supply and demand are equal, so that there's no surplus or shortage. I'm pretty sure the term for that is the equilibrium price. I'll go with B.

upvoted 0 times

...

Kara

11 months ago

Hmm, I'm a little unsure about this one. I know it has something to do with supply and demand, but I can't quite remember the exact term they're looking for. I'll have to think this through carefully.

upvoted 0 times

...

Jaleesa

11 months ago

This one seems pretty straightforward. I'm pretty confident the answer is B, Equilibrium.

upvoted 0 times

...

Charlie

11 months ago

Hmm, the question mentions that R2 and R3 are still receiving two routes, even after the summary address was configured on R1. I wonder if there's something else going on that's causing that behavior.

upvoted 0 times

...

Madalyn

11 months ago

I feel pretty good about this one. The Distribution Constructor can definitely create ISO images and bootable USB images, so I'll go with options A and B.

upvoted 0 times

...

Serina

11 months ago

Okay, I remember learning about this in class. The Federal Register is where administrative agency rules and regulations are officially published, so I'm going to select option B.

upvoted 0 times

...

Corrie

1 year ago

I was tempted by C) Clearing, but B) Equilibrium is the classic term for that market-clearing price. Though 'Equivalium' does have a nice ring to it!

upvoted 0 times

Tony

1 year ago

'Equivalium' does sound interesting, but it's not the correct term for that price.

upvoted 0 times

...

Dominque

1 year ago

Yeah, 'Equilibrium' is definitely the right answer when it comes to supply and demand.

upvoted 0 times

...

Derick

1 year ago

I agree, 'Equilibrium' is the classic term used in economics for that price point.

upvoted 0 times

...

Burma

1 year ago

I was tempted by C) Clearing too, but 'Equilibrium' is the right answer.

upvoted 0 times

...

Noel

1 year ago

I think you're right, B) Equilibrium is the correct term for that market-clearing price.

upvoted 0 times

...

Michell

1 year ago

Yeah, 'Equilibrium' is the classic term used in economics.

upvoted 0 times

...

Fannie

1 year ago

I think B) Equilibrium is the correct term for that market-clearing price.

upvoted 0 times

...

Ammie

1 year ago

D) Equivalium? Really? Sounds like someone's trying to be clever, but B) Equilibrium is the correct answer.

upvoted 0 times

Gabriele

1 year ago

C) Clearing

upvoted 0 times

...

Merissa

1 year ago

B) Equilibrium

upvoted 0 times

...

Yoko

1 year ago

A) Equidistant

upvoted 0 times

...

Raylene

1 year ago

Hmm, 'Clearing' price sounds like the right term, but I think B) Equilibrium is the more standard economic concept they're looking for here.

upvoted 0 times

Ty

1 year ago

I think Equilibrium is the term they're looking for in this case.

upvoted 0 times

...

Mohammad

1 year ago

I'm not sure, but I think Equilibrium makes sense here.

upvoted 0 times

...

Alison

1 year ago

I agree, I think B) Equilibrium is the correct term in this context.

upvoted 0 times

...

Brittni

1 year ago

I was a bit confused at first, but now I see it's the price where the market clears, without surplus or shortage. B) Equilibrium is the way to go.

upvoted 0 times

Kandis

1 year ago

Yes, B) Equilibrium is the price where supply and demand meet.

upvoted 0 times

...

Yolando

1 year ago

I think you're right, it's all about finding that perfect balance.

upvoted 0 times

...

Claribel

1 year ago

That makes sense, it's the balance point between supply and demand.

upvoted 0 times

...

King

1 year ago

I agree, B) Equilibrium is the correct answer.

upvoted 0 times

...

Ellsworth

1 year ago

The equilibrium price is the one that balances supply and demand - that seems to be the right answer. B) Equilibrium.

upvoted 0 times

Leatha

1 year ago

Yes, the equilibrium price is where supply and demand are balanced.

upvoted 0 times

...

Leatha

1 year ago

B) Equilibrium

upvoted 0 times

...

Tresa

1 year ago

I'm not sure, but I think it's C) Clearing because it sounds like the market clears at that price.

upvoted 0 times

...

Eleonore

1 year ago

I agree with Man, because at equilibrium price, supply equals demand.

upvoted 0 times

...

Man

1 year ago

I think the answer is B) Equilibrium.

upvoted 0 times

...