Combining Supply and Demand Directions: Fill In the blank with the word or words that best completes the sentence. 1. Equilibrium Is the point of balance between price and quantity. It is the point where Quantity Demanded and Quantity Supplied come together at the same number. At this point the market for a good is 2. Disequilibrium occurs when quantity supplied is not equal to quantity demanded in a market. 3. When the actual price of a good is below equilibrium price, you have When a price is too high, the quantity supplied will exceed quantity demanded and there will be 4. A is a maximum price, set by law, that sellers can charge for a good or service. The government sets them on some goods that are considered" Essential " and might become too expensive for some consumers. a. List one example: 5. A is a minimum price, set by the government, that must be paid for a good or service. They are often imposed when government wants sellers to receive some minimum for their efforts. a. List one example