Equilibrium market prices (3.1.6)

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  • Created by: lee42
  • Created on: 30-05-19 16:26
What is the equilibrium?
It is when demand meets supply
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What is disequlibrium?
Its when the market ia not at a stable price or quantity
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When does excess supply/demand occur
When the market is in disequilibrium
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What is excess supply?
It is the difference between QD and QS
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What is excess demand?
is is when QD exceeds QS
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Other cards in this set

Card 2

Front

What is disequlibrium?

Back

Its when the market ia not at a stable price or quantity

Card 3

Front

When does excess supply/demand occur

Back

Preview of the front of card 3

Card 4

Front

What is excess supply?

Back

Preview of the front of card 4

Card 5

Front

What is excess demand?

Back

Preview of the front of card 5

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