markets

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  • Created by: o_cook
  • Created 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

Other cards in this set

Card 2

Front

where demand is greater than supply at a given price > shortages in the market

Back

excess demand

Card 3

Front

supply is greater than demand at a given price > unsold goods in the market

Back

Preview of the back of card 3

Card 4

Front

quantity X price (in a given period of time)

Back

Preview of the back of card 4

Card 5

Front

5

Back

Preview of the back of card 5

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