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GOVERNMENT DEBT: The total amount of all government securities outstanding. This is also frequently termed the public debt.
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Lesson 7: Market Equilibrium | Unit 1: The Exchange
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Equilibrium is the balance of opposing forces that remains unchanged until another force intervenes. For example: If two people are pushing in opposite ways on a swinging door with equal strength, then neither will be able to go through. Each pusher represents an opposing force. For a market, the opposing forces are: - Demand. Buyers want to pay a lower price.
- Supply. Sellers want to receive a higher price.
Market equilibrium is indicated by equilibrium quantity and equilibrium price.- Equilibrium quantity is the quantity of a good traded among buyers and sellers when a market is in equilibrium.
- Equilibrium price is the price agreed to by buyers and sellers when a market is in equilibrium.
- Buyers and sellers will continue to trade the equilibrium quantity at the equilibrium price indefinitely.
- But, the equilibrium quantity and price can be disrupted by ceteris paribus determinants of demand and supply. Analyzing these disruptions help us understand economic events.
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FACTOR MARKET ANALYSIS An analysis of the structure and equilibrium determination of markets that exchange the services of productive resources. This analysis highlights principles and concepts that tend to be most commonly associated with factor markets (also termed resource markets), including monopsony and bilateral monopoly. Marginal revenue product is a key concept on the demand side of the factor market. Marginal factor cost is a key concept on the supply side of the factor market.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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ISIC
International Standard Industrial Classification
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