markets 0.0 / 5 ? Business StudiesMarketing mixASEdexcel Created by: o_cookCreated on: 20-10-19 15:57 equilibrium price where demand and supply are equal 1 of 5 excess demand where demand is greater than supply at a given price > shortages in the market 2 of 5 excess supply supply is greater than demand at a given price > unsold goods in the market 3 of 5 total revenue quantity X price (in a given period of time) 4 of 5 5 5 5 of 5
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