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BUYERS' MARKET: A disequilibrium condition in a competitive market that has a surplus, such that buyers are able to force the price down. Note that a buyers' market does not mean that a lack of competition among demanders have given buyers market control. A buyers' market is a competitive market that simply has a temporary imbalance between the quantity demanded by the buyers and the quantity supplied by the sellers. The buyers' market phrase is commonly used (mainly by real world noneconomist types) to describe a surplus in real estate or housing markets. It's also commonly used when describing assorted financial markets. You might want to examine the opposite of a buyers' market, which is a sellers' market. Additional information on the real estate market can be found in the entry on building cycle.
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Lesson 4: Production Possibilities | Unit 4: Analysis
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Page: 18 of 24
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- How full employment is represented by any bundle ON the production possibilities curve and unemployment is represented by any bundle INSIDE the production possibilities curve.
- The production possibilities curve as a frontier or boundary that cannot be cross give current quantities and qualities of resources.
- How the process of economic growth expands the production possibilities curve to reach previously unreachable bundles of goods.
- How economic growth is achieved by increasing the quantity or quality of resources.
- Five important sources of economic growth-the quantity of labor, the quantity of capital, the quantity of materials, education, and technology.
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ECONOMIC GOALS Five conditions of the mixed economy, including full employment, stability, economic growth, efficiency, and equity, that are generally desired by society and pursued by governments through economic policies. The five goals are typically divided into the three that are most important for macroeconomics (the macroeconomic goals of full employment, stability and economic growth) and the two that are most important for microeconomics (the microeconomic goals of efficiency and equity).
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for rusty deck screws.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"The road to success is always under construction. " -- Lily Tomlin, Actress
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IRT
International Trade Commission
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