|
|
MARKET DISEQUILIBRIUM: A state of the market that exists when the opposing forces of demand and supply do not balance out and there is an inherent tendency for change. This should be directly (and immediately) contrasted with the entries on equilibrium and market equilibrium. For the market, disequilibrium is indicated by the existence of either a surplus or a shortage. The inherent tendency to change occurs because a surplus causes the price to decline and a shortage causes the price to rise. So long as market disequilibrium persists, the price will be induced to change.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 3: Scarcity | Unit 5: THE Problem
|
Page: 15 of 17
|
An important aspect of scarcity is the fact that almost nothing is free.- That's why economists are fond of saying: 'There ain't no such thing as a free lunch.
We have always faced limited resources and we've always wanted more than we can produce.- Scarcity is definitely THE Economic Problem.
- Everything we do from in economic terms-production, consumption, working, attending college-is directed toward this problem.
- Scarcity is important to many, perhaps even all, other human activities.
- Education? Without scarcity, education is not needed.
- Government? Without scarcity, government is not needed.
- What about vacations, religion, television?
|
|
|
|
|
|
|
INTERCEPT, NET EXPORTS LINE The intercept of the net exports line indicates autonomous net exports, net exports that do not depend on the level of domestic income or production. This can be thought of as net exports, exports minus imports, that the foreign sector undertakes regardless of the state of the economy. Autonomous net exports are affected by the net exports determinants, which cause a change in the intercept and a shift of the net exports line.
Complete Entry | Visit the WEB*pedia |
|
|
ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for cardboard boxes.
Your Complete Scope
This isn't me! What am I?
|
|
|
John Maynard Keynes was born the same year Karl Marx died.
|
|
|
"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
|
|
UR
Unemployment Rate
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
