topic 6: supply and demand

0.0(0)
studied byStudied by 0 people
0.0(0)
full-widthCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/4

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

5 Terms

1
New cards

Demand

Total quantity that all consumers together want to hug at any given price

2
New cards

Supply

Total quantity that all forms together would produce at any given price

3
New cards

Competitive equilibrium

All buyers and sellers are price takers

Supply= demand

4
New cards

Perfect information

  • Homogeneous goods

  • Many buyers and sellers

  • Perfect information

  • Buyers and sellers act independently of each other

5
New cards