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KEYNESIAN THEORY: A theory of macroeconomics developed by John Maynard Keynes built on the proposition that aggregate demand is the primary source of business cycle instability, especially recessions. The basic structure of the Keynesian theory of economics was initially presented in Keynes' book The General Theory of Employment, Interest, and Money (1936).
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Lesson 7: Market | Unit 1: The Exchange
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Page: 2 of 22
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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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BALANCE OF PAYMENTS A comprehensive set of accounts that tracks the flow of currency and other monetary assets coming in to and going out of a nation. These payments are used for international trade, foreign investments, and other financial activities. The balance of payments is divided into two accounts -- current account (which includes payments for imports, exports, services, and transfers) and capital account (which includes payments for physical and financial assets). A deficit in one account is matched by a surplus in the other account. The balance of trade is only one part of the overall balance of payments set of accounts.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center hoping to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Look at the abundance all around you as you go about your daily business. You have as much right to this abundance as any other living creature. It's yours for the asking." -- Earl Nightingale
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CACM
Central American Common Market
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