Manager use the communication skill of listening like a professional to focus, maintain eye contact, and ask clarifying questions if thoughts wander.
Good communication skills are required to allow others and oneself to absorb information more effectively and quickly. In contrast, poor communication skills lead to frequent misunderstandings and professional. Great communicators choose their words carefully, understand their audience, and connect with them at the right time and place. You can master the abilities and learn how to be a successful communicator by using these ideas and practising frequently. Being able to communicate effectively is essential for being an effective instructor.
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nike owns equipment that cost $99,500 with accumulated depreciation of $68,000. nike asks $36,500 for the equipment but sells the equipment for $34,000. compute the amount of gain or loss on the sale. multiple choice $2,500 loss. $3,050 gain. $2,500 gain. $5,000 gain. $5,000 loss.
Nike owns equipment that cost $99,500 with accumulated depreciation of $68,000. nike asks $36,500 for the equipment but sells the equipment for $34,000. The amount of gain on the sale is $2500
It is calculated as :
Written down value = Cost of machinery - Accumulated depreciation
= $ 99,500- $68,000
=$31500
Sale value = $34000
Profit on sale = Sale value - Written down value
= $34000- $31500
=$2500
Depreciation is defined as the gradual decrease of the equipment every year due to its wear and tear.
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what is the fourth step in communication planning
Answer:
Identify the owners, stakeholders, and audience
Explanation:
28. Jojo is offered an installment loan at a fixed rate for a secured debt. Explain what each aspect of that offer means: 42
An instalment loan at a fixed rate for a secured debt means they are charged an interest rate that is unchanged for the term of the loan from the time of borrowing.
What is an instalment loan?Instalment loans are those types of loans that allow individuals to borrow a predetermined amount of money, disbursed in a lump sum and it can be repaid over time.
These loans come with a fixed interest rate and require regular monthly payments that remain the same each month. A portion of each monthly payment is applied to the principal amount borrowed.
Further, a portion is applied to the interest on the loan.
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what is the total amount of high-quality energy available after the energy needed to make it available is subtracted?
Net energy is the total amount of high-quality energy available after the energy needed to make it available is subtracted.
A facility's or technology's net energy is the difference between the energy it produces and the energy needed to build and run it. The energy needed to generate all inputs, such as steel, concrete, etc., is included in the required energy.
Energy required minus energy produced equals positive net energy, which is larger than 1. The latter is also known as the energy return on investment or net energy ratio.
Analysis of net energy makes it possible to compare various energy sources and track changes over time as we access farther-flung, more complex sources of energy.
Though generally simple to understand, the conceptual and bookkeeping aspects of net energy analysis are complex (e.g., how to compare various forms of energy like liquid fuels and electricity, or whether to add the energy needed to support research and development?).
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in a survey of project managers, what percentage of project managers reported encountering ethical issues in their work?
22 percentage of project managers reported encountering ethical issues in their work. An expert in project management is referred to as a project manager.
Regardless of the industry, project managers are encountering responsible for the planning, acquisition, and execution of any activity with a specified scope, defined start, and defined conclusion. Before the issue escalates to higher authorities, project managers serve as the initial point of contact for any concerns or conflicts occurring among the heads of several divisions inside an organization. A project manager is in charge of managing the project. Rarely does this person actively engage in the processes that lead to the result.
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fedex offers price incentives to companies for shipping a large number of packages at one time. this is an example of a
The correct answer is noncumulative quantity discount.
Quantity discounts are price reductions offered as a result of a customer purchasing a specific number of items. To encourage customers to make greater purchases, a noncumulative quantity discount is applied to each purchase.
This means that the seller's inventory costs may be reduced as the buyer keeps the extra goods until they are consumed. It also means that the customer is prevented from switching to a rival at least until the stock is consumed.
A cumulative quantity discount applies to the total bought items over a period of time. With each additional purchase, the buyer increases the potential discount.
A similar approach encourages recurring business. Price reductions for out-of-season goods are known as seasonal discounts; an example would be a summer sale on snowmobiles.
Such discounts aim to spread demand throughout the course of the year, which can enable better use of production facilities and year-round cash flow.
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a. the stated rate of interest is higher than the market rate. b. the market rate of interest is equal to the stated rate. c. the market rate of interest is less than the stated rate. d. the stated rate of interest is less than the market rate. e. the market rate of interest is higher than the stated rate.
If a bond is sold at a premium, options a, the stated rate of interest is higher than the market rate.
Premium bond costs higher than the face amount of the bond. Premium bonds have a high-interest rate in the market in comparison to the current market rate. The credit rating of the company and bond can increase the worth of the bond.
When the interest rate decreases, the bond price increases. Similarly, bond price decreases when interest rate increases. Premium bond has a coupon rate higher in comparison to the market rate.
Premium bonds are issued by a company with established companies with high credit ratings. Investors must know the reason for the high rates of premium bonds and the ratings of the company selling the premium bonds.
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Look up data on the current unemployment rate, inflation rate, and/or GDP growth rate. Based on your data, comment on the current state of the economy.
Visit the "U.S. Economy at a Glance" page of U.S. Bureau of Economic Analysis website (via bea.gov)Links to an external site. for the current data.
Post a brief paragraph responding to the discussion prompt above. Your post should use concepts presented in this module. Your post must be completed before you can see posts from your classmates.
Current dollar GDP increased 6.7 percent year on year, or $414.8 billion, to $25.66 trillion in the third quarter.
The national unemployment rate was 3.7 percent in October 2022.
What is unemployment rate?The unemployment rate is the proportion of workers in the labor force who are unemployed but actively looking for work. This measure excludes people who have not looked for work in the last four weeks.
Inflation is defined as an increase in the price of goods and services purchased by households. The rate of change in those prices is used to calculate it. Prices typically rise over time, but they can also fall (a situation called deflation).
The annual average rate of change in the gross domestic product (GDP) at market prices in constant local currency for a given national economy over a specified time period.
In this case, the percentages for the unemployment as well as the GDP of the United States is given above.
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in the video, what do both managers suggest should be done to ensure that effective communication is taking place?
Communication's most crucial component is listening. Understanding spoken or written material is only one aspect of effective listening; another aspect is recognizing the speaker's emotions as they are expressed.
What actions should managers take to enhance the effectiveness of communication inside the company?Managers should promote a two-way communication approach to increase communication effectiveness. Through the use of two-way communication, the recipient can inform the sender whether they have been understood by asking questions, requesting clarification, and expressing opinions.
Why is it crucial for managers to have strong and efficient communication skills?Strong management - Managers are better equipped to manage their teams when they are strong communicators. Being an effective communicator makes it much simpler to delegate tasks, manage conflicts, inspire employees, and develop relationships—all crucial managerial duties.
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what principle of corporate governance requires public clarification of the roles and responsibilities of board and management in order to provide stakeholders with a level of accountability? disclosure and transparency shareholder rights integrity and ethical behavior interests of other stakeholders
Disclosure and transparency requires public clarification of the roles and responsibilities of board and management in order to provide stakeholders with a level of accountability.
The term "good corporate governance" refers to a set of strategic management practices and procedures that give business organizations (companies) strong management, strict guidelines and controls, and assurance that every decision is made in the best interests of shareholders and other stakeholders.
There are four main principles of good corporate governance and these include the following:
AccountabilityTransparencyFairnessResponsibilityUnder good corporate governance, transparency is a principle which requires that all meaningful information, processes, and data records are accurately made available to shareholders and stakeholders on a timely basis.
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creative clayworks purchases 3 pottery wheels for $1,000 each and pays $500 (total) to have them delivered to the studio. during the first year of operations, she has to have one of the machines fixed for $100. assuming a $300 salvage value, 4 year estimated life and that she uses straight line, what is her annual depreciation expense?
Her annual depreciation expense = $800
Purchase price of pottery wheels = 3 × $1,000 + $500 delivery charges.
= $3,000 + $500 = $3,500.
Depreciation = Purchase price of pottery wheels - Salvage value / Estimated useful life.
= $3,500 - $300/4 Year
= $3,200/4 Year
= $800.
Therefore, depreciation expense = $800.
The monetary fee of an asset decreases over the years due to use, put on and tear, or obsolescence. This lower is measured as depreciation. Description: Depreciation, i.e. a lower in an asset's fee, can be because of a number of different factors as nicely which include adverse marketplace conditions, and many others.
Depreciation represents the estimated reduction in the value of fixed property within a financial 12 months. Tangible belongings, which include buildings, equipment, cars, and so on, are bought in huge lump sums.
Depreciation magazine entry is the magazine access surpassed to record the discount within the fee of the fixed belongings because of everyday wear and tear, regular usage or technological changes, and so forth., wherein the depreciation account will be debited, and the respective constant asset account could be credited.
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assume that medicare part b pays for 70% of the cost of a trip to your doctor. what is the name of the policy that may pay the remaining 30% of the approved medical costs?
The name of the policy that may pay the remaining 30% of the approved medical costs is a supplemental insurance policy.
A different form of insurance aids in covering medical expenses not covered by a person's primary health insurance plan. Copayments, coinsurance, and deductibles are some of these expenses. Supplemental health insurance comes in many various forms, such as vision, dental, hospital, accident, disability, long-term care, and Medicare supplemental policies.
Additional health insurance plans are also available for certain ailments, such as cancer, stroke, or kidney failure. Other costs associated with an illness or injury may also be covered by some supplemental health insurance policies, including those for lodging, meals, travel, and other necessities.
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suppose there is an economy-wide decrease in business taxes. what can we expect to see in the business cycle model?
An economic cycle stage characterized by rising real GDP, income, and employment.
what is business cycle model?The business cycle model depicts the changes over time in a country's total output and employment. The model depicts the four long-term phases of an economy: expansion, peak, recession, and trough.An increase in company taxes will result in lower after-tax profits for companies, which will limit their ability to spend, hence lowering AD. The converse will occur if company taxes are reduced for AD. Generally speaking, if government spending rises, AD rises as well.Recession can enter a country's economy during the contraction phase. The phrase "contraction phase" refers to the time during a business cycle when real GDP is declining.To learn more about business cycle model refer to:
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which of the following are examples of controls used by a supervisor? group of answer choices planning and budgeting and performance appraisal systems and other feedback management by objectives (mbo) and performance standards planning and budgeting performance appraisal systems and other feedback all answer choices are correct
The process of ongoing communication & feedback a manager and employee aimed at achieving organizational goals is known as performance management.
What is performance standards planning ?Performance expectations must be precise, measurable, realistic, and documented in writing or another way. The standards ought to be specified in terms of the precise performance measurement tools that will be employed.
An articulation of the production initially given), requirement(s), or expectation(s) that must be met in order to be evaluated at a specific level of performance is called a performance standard. Each important component must have a Fully Successful (or comparable) standard created for it, and it must be mentioned in the performance evaluations plan.
The goal of performance management is to guarantee that the organization's strategic goals are met through ongoing feedback and communication among managers and their staff.
Five essential steps make up the performance management cycle. No of how frequently you evaluate employee performance, these measures are necessary.
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if you are relying on self-control, commitment, and shared influence to manage your team, which form of structural control are you using?bureaucraticdecentralized
If you are relying on self-control, commitment, and shared influence to manage your team then you are using the structural control known as clan control.
What is clan control ?Clan control is an indirect form of control that motivates employees to work toward an organization's objectives by utilizing common expectations, beliefs, and social norms. This type of control, which frequently ties into corporate culture, encourages employees to strive toward the organization's objectives. Corporate retreats, group meetings, company publications, and opportunities for people to offer comments about the firm are policies that may have an impact on clan control.
The majority of clan control businesses rely on cooperation and mutual understanding amongst employees. There is constant contact within clan control. Employees can speak with anyone, regardless of their position, to address problems that directly affect them, much like how families operate, where the older members provide guidance to the younger members. Clan control also makes sure that management meets the requirements of the workforce. In businesses that value collaboration, this management approach is particularly effective.
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beatrice invests $1,400 in an account that pays 5 percent simple interest. how much more could she have earned over a 6-year period if the interest had been compounded annually?
If the interest had been compounded annually over a 6-year period, Beatrice would have made $1,876.13
What is interest?Interest is the cost associated with the right to borrow money, and it is frequently expressed as an annual percentage rate (APR).Interest is the payment a lender or financial institution makes in exchange for lending out money.The portion of a shareholder's shares that constitutes their ownership in a corporation; also known as interest.The two fundamental types of interest rates that can be applied to loans are simple and compound.Simple interest is the amount that the borrower must pay in order to obtain access to the funds, which is often a predetermined portion of the principal that was first lent to the borrower.Compound interest is the name for the interest that is charged on loans that have both principal and accruing interest. Less frequently occurs the second type of interest than the first.Next, let's figure out compound interest:1400 (.05 × 6) + 1400 = 1,876.13
1,876.13
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respond to the following essay question. provide comprehensive information and examples for this assignment. provide your personal thoughts and ideas for this assignment. do not plagiarize your responses for this assignment. definitions are not to be included in your responses. do not number the paragraphs. appropriately cite your sources. do not retype the question!! post your assignment to the provided assignment thread. utilize your textbook when responding to the essay question. do not use outside sources. outside sources will provide incorrect information. post your initial response and you will be given access to the turnitin summary report. you can submit your document up to three times before the due date. an acceptable turnitin score in less than 10%. word count requirement: 250 words question what is the role of the board of directors in corporate governance? what responsibilities does the board of directors have?
The role of the board of director in the corporate governance is to oversight and plan the development of the concern. And the responsibilities of the board of directors is to provide the leadership in order to achieve the mission.
Corporate governance:
Corporate governance means the system by which companies are directed and controlled.
Given,
Here we need to identify the roles and responsibilities of the board of director.
Before, we move on to the roles and responsibilities first we have to know who are board of directors.
Basically, board of directors are the person who are the highest governing authority within the management structure at a corporation or publicly traded business.
So, their main role is to oversight and planning the success of the concern.
And the responsibility of the board of directors is to provide leadership and oversight so the organization can reach its goals and achieve its mission.
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in the context of abc inventory analysis, which of the following statements is true of class c items? question 8 options: they require close control by operations managers. they comprise more than 80 percent of the total dollar usage. they can be managed using automated computer systems. they make up less than 10 percent of inventory items.
In the context of ABC inventory analysis, they can be managed using automated computer systems.
The ABC inventory analysis divides inventory into three major categories: A, B, and C, with group A items being the most valuable and group C things being the least valued.
Similar in concept to the Pareto principle, this approach is based on the idea that organizations should concentrate on a small number of goods, services, or methods that provide the greatest profit relative to other goods/services.
Group A goods must be closely monitored by operations managers since they are essential to the performance of the supply chain and are rarely handled by fully automated systems.
Similar to the Pareto principle, A items often account for 10–20% of the total item share and provide 70–80% of overall profit.
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sharon is the policy owner of a $50 000 life insurance policy. her son, mike is the beneficiary. if sharon must obtain mikes signature in order to change the beneficiary, what kind of beneficiary designation is this
Sharon is the policy owner of a $50 000 life insurance policy. her son, mike is the beneficiary. If Sharon must obtain mikes signature in order to change the beneficiary. The kind of beneficiary designation is Irrevocable.
What is Irrevocable Beneficiary?
A person or organization named to receive the assets in a life insurance policy or a segregated fund contract is known as an irrevocable beneficiary.Even if they are divorced spouses, irrevocable beneficiaries cannot be changed after being chosen unless they consent to it.To ensure their inheritance or guarantee receiving child support, parents frequently designate their children as irrevocable beneficiaries.Making a beneficiary designation that cannot be changed can also be advantageous for estate planning, particularly if the insurance policy is placed in an irrevocable trust.Certain assured rights to assets kept in the policy or fund belong to an irrevocable beneficiary.To know more about irrevocable beneficiary refer:
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assume rick and veronica own adjacent homes. the two properties share a driveway which is located on veronica's property. rick has a legal right to use the shared driveway. the shared driveway can best be described as
The shared driveway can best be described as an easement.
An easement is a real estate term that describes a situation in which one party utilizes another party's property in exchange for payment to the owner of the land. Public utility corporations frequently purchase easements to obtain the right to build power lines or install pipes around private land. Although fees are given to the property owner, easements can have a detrimental impact on property values because, for instance, obtrusive electricity lines might detract from a piece of land's aesthetic attractiveness.
A typical easement agreement defines a method of payment by the petitioner to the owner for the right to use the subject of the easement for a particular purpose. It is used to represent a high-level contract between the owner of a property and another party.
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7. michael has an investment with the following annual returns for four years: what is the arithmetic mean (am) and what is the geometric mean (gm)?
michael has an investment with the following annual returns for four years then AM = 7.67%, GM = 5.60%.
What do you mean by arithmetic mean?The arithmetic mean is defined as the ratio of the sum of given values to the total number of values.
What do you mean by geometric mean?Whereas in geometric mean, we multiply the “n” number of values and then take the nth root of the product.
The relationship between arithmetic mean, geometric mean, and HM can be represented by the formula AM × HM = GM2. The geometric mean (GM)is equal to the product of the arithmetic mean (AM) and the harmonic mean (HM) .
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https://brainly.com/question/2292573#SPJ4in general, which of the following rankings, from highest to lowest cost, is most accurate? group of answer choices cost of preferred stock, cost of new common stock, cost of retained earnings, cost of debt cost of new common stock, cost of preferred stock, cost of debt, cost of retained earnings cost of new common stock, cost of retained earnings, cost of preferred stock, cost of debt cost of debt, cost of preferred stock, cost of new common stock, cost of retained earnings
In general, the cost of new common stock, cost of retained earnings, cost of preferred stock, and cost of debt rankings, from highest to lowest cost, are the most accurate.
An inventory, additionally known as fairness, is a protection that represents the ownership of a fragment of the issuing organization. units of inventory are referred to as "stocks" which entitles the proprietor to a proportion of the corporation's belongings and income identical to how much inventory they very own.
Stock is the cost of the goods which you have access to promote to your customers. if you sell offerings in place of goods, you won't have any stock. The inventory might consist of raw materials which you purchase to make your items, 1/2-finished goods (called 'paintings in progress), and completed items.
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time remaining 14 minutes 28 seconds00:14:28 item 19 time remaining 14 minutes 28 seconds00:14:28 which market is most likely to be characterized by oligopolistic competition in the united states?
The markets is most likely to be characterized by oligopolistic competition in the United States---- soft drinks.
What are the characteristics of oligopolies in economics?
Characteristics of oligopolies include high barriers to entry, pricing power, business interdependence, revenue maximization, product differentiation, and non-price competition.
What is the purpose of oligopolies?An oligopolistic market is a market where profit-maximizing competitors establish their strategies by paying particular attention to their competitors' possible reactions. Under these conditions, companies can differentiate their products, which may benefit some consumers but at a cost.
What is an example of oligopolistic competition?When one company sets a price, others respond in a way that keeps their customers buying. For example, if an airline reduces ticket prices, other players often follow.
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the excess of government spending over tax collections is: multiple choice national income. national saving. national wealth. the government budget deficit.
The excess of government spending over tax collections is Option (d) the government budget deficit.
Current expenses surpass the amount of income obtained through routine operations when a budget deficit is detected. A government may boost revenue-generating activities or reduce specific expenditures in order to balance the country's budget deficit, also known as a fiscal deficit.
A budget deficit may result in increased borrowing, greater interest costs, and insufficient reinvestment, all of which reduce revenue for the next year. Overspending by the government and insufficient revenue are the two main contributors to budget deficits.
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local petroleum distributors (lpd) sells gas and diesel fuel to 72 independent gas stations and convenience stores. receiving accurate data on the fuel needs of its customers is a critical operational concern. lpd installed sensors in the fuel storage tanks owned by each customer. at 11 pm each evening, the sensors send fuel data electronically to lpd. lpd receives the data, and a computer enters each record. the data are analyzed, and the analysis determines which retailers require a fuel shipment in the next three days. the electronic system has increased operational efficiency as shipments can be better coordinated, and retailers are no longer required to measure the fuel level and report manually. lpd's use of a computer to enter the data reported by the sensors is an example of
Ltd's use of a computer to enter the data reported by the sensors is an example of Robotic process automation
A sensor is a tool that produces an output sign for the motive of sensing a bodily phenomenon. In the broadest definition, a sensor is a device, module, gadget, or subsystem that detects occasions or changes in its environment and sends the data to different electronics, regularly a laptop processor. Sensors are constantly used with other electronics. Sensors are utilized in regular objects along with contact-sensitive elevator buttons (tactile sensors) and lamps that dim or brighten with the aid of touching the bottom, and in innumerable packages of which the majority are never conscious. With advances in micromachinery and smooth-to-use microcontroller platforms, the uses of sensors have extended past the traditional fields of temperature, pressure, and float measurement,[1] as an example into MARG sensors.
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when, a well-known retailer of , started losing sales to its own loft outlets that feature moderately priced casual clothes, ann taylor was dealing with the marketing phenomenon known as .
Ann Taylor is dealing with marketing phenomena called cannibalization.
What is cannibalization?
When a business has numerous items that compete with one another in the same market, this is known as cannibalization.
Cannibalization of the market refers to a decline in revenue brought on by a corporation introducing a new product that replaces one of its own older goods. Despite a rise in sales for the new product, the cannibalization of the company's existing products results in no increase in market share.
When a new product is comparable to an old product and both have the same target market, market cannibalization may take place. Cannibalism can also happen when a chain store or fast food restaurant experiences a decline in business as a result of a new location of the same brand setting up close by.
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valley spa purchased $9,000 in plumbing components from tubman company. valley spa signed a 60-day, 8% promissory note for $9,000. if the note is dishonored, but tubman intends to continue collection efforts, what is the journal entry made by tubman to record the dishonored note? (use 360 days a year.)
The journal entry made by Tubman to record the dishonored note is Debit accounts receivable-Valley spa $9,120, Credit interest revenue $120; credit notes receivable $9,000.
Journal Entry for dishonor of notes receivable:
Account title and explanation Debit Credit
Accounts receivable-Valley Spa $9,120
Interest revenue [$9,000 x 8% x (60/360)] $120
Notes receivable $9,000
A note receivable is a written agreement to pay a specific sum of money to another party on one or more dates in the future. The holder of the note views this as an asset. In order to give the debtor more time to pay, past-due accounts receivable are occasionally changed into notes receivable. These notes occasionally also include a personal guarantee from the debtor's owner.The party obligated to send money to the payee is known as the maker, and the party receiving payment under the terms of the note is known as the payee. The principle is the amount of the payment that is required, as specified in the terms of the note. On the date the note matures, the principal is to be paid.Learn more about Notes receivable, here
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goodeal, inc., is considering the purchase of a new material handling system for a cost of $15 million. this system is expected to generate a positive cash flow of $1.8 million per year in perpetuity. what is the irr of the proposed investment if the appropriate hurdle rate is 10.5%?
The irr of the proposed investment will be $2,142,857.
The concept of net present value (NPV) is used to calculate the current value of all projected future cash flows, including the initial capital expenditure. To determine which projects are most likely to generate the highest profit, it is frequently used in capital budgeting.
NPV = PV(cash inflows) / (1 + i)^t — CF0
= ($1.8 million / 0.105) — $15 million
= $2,142,857
The discounted present value of all future cash flows associated with a project or investment will be positive and therefore appealing if the net present value (NPV) of that project or investment is positive.
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kyle knows that his spring break travel packages are the best deal on campus. he also knows his competitor is sloppy, often waiting until the last minute to provide the needed tickets and documents to students buying his island packages. kyle wants to develop an advertising message that emphasizes the key benefits he provides. he will develop a(n) blank appeal.
The complete statement is "kyle knows that his spring break travel packages are the best deal on campus. he also knows his competitor is sloppy, often waiting until the last minute to provide the needed tickets and documents to students buying his island packages. kyle wants to develop an advertising message that emphasizes the key benefits he provides. he will develop a(n) Informational appeal." Option E
What is Informational appeal.?Generally, In marketing and advertising literature, informational appeals, also known as functional or rational appeals, are direct methods of persuasion that present the benefits of a product in terms of its quality, performance, or value.
These types of appeals make use of rational, logical arguments or factual evidence to directly convince the target audience.
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CQ
kyle knows that his spring break travel packages are the best deal on campus. he also knows his competitor is sloppy, often waiting until the last minute to provide the needed tickets and documents to students buying his island packages. kyle wants to develop an advertising message that emphasizes the key benefits he provides. he will develop a(n) blank appeal.
a. niche marketing
b. emotional
c. institutional
d. reminder
e. Informational
congress imposes a price ceiling in the market for gasoline. it is below the equilibrium price. this will:
congress imposes a price ceiling in the market for gasoline. it is below the equilibrium price. this will: Lead to a shortage of gasoline
What is equilibrium price?
A market-clearing price, often referred to as an equilibrium price, is the consumer cost associated with a good or service when supply and demand are equal or nearly equal.
The cost at which a commodity's supply and demand are balanced. When a significant index experiences a, it is claimed that the market is in equilibrium period of consolidation or sideways movement, indicating that the forces of supply and demand are essentially equal.
At the equilibrium price, there is neither a shortage nor a surplus of the good because buyers and sellers are both willing to purchase the same amount.
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