Diseuilibrium and Changes in Equilibrium

0.0(0)
studied byStudied by 0 people
linked notesView linked note
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/5

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.

6 Terms

1
New cards

Market Equilibrium

The point at which supply and demand curves intersect, determining the price and quantity of goods in the market.

2
New cards

Shifts in Supply and Demand Curves

Changes in the supply or demand for a product due to factors like consumer preferences, technology, and resource prices.

3
New cards

Factors Affecting Supply and Demand

Consumer preferences, technological advancements, and changes in resource prices that can shift supply and demand curves.

4
New cards

Effects of Supply and Demand Shifts

Shifting curves can lead to increases or decreases in equilibrium price and quantity, impacting market dynamics and consumer behavior.

5
New cards

Equilibrium Price

The price at which the quantity of goods supplied equals the quantity of goods demanded.

6
New cards

Equilibrium Quantity

The quantity of goods bought and sold at the equilibrium price, determined by supply and demand.