The statement that summarizes the role of supply and demand in setting prices for goods is that prices are set by finding a balance between the high prices sellers prefer and the low prices buyers prefer. Hence, option A is correct.
Prices of goods are determined by the forces of demand and supply of a product in the market during a given period of time, and at a given price to which the buyers and sellers agree to exchange the goods at.
Supply of the goods are generally preferred by the sellers to be done at higher prices so that their profits are maximized, whereas, buyers prefer the lowest possible prices to maximize their utility and savings.
Hence, option A holds true regarding the prices of goods.
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