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X-AXIS: In a graph, this is one of two lines that intersect at a right angle at their origins. This is the "horizontal-axis" that runs from right and left. In most analyses, the variable measured on the X-axis is consider to be the independent variable.
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Lesson 7: Market Equilibrium | Unit 5: The Method
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Page: 18 of 22
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Topic:
Efficient Markets
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Rethinking demand and supply curves indicates efficiency of markets. Market equilibrium has: - Equality between quantity demanded and quantity supplied.
- Equality between demand price and supply price.
- Equality between demand price and supply price means that the satisfaction obtained from the good produced is equal to the opportunity cost of production.
- This equality between prices also means that the value of the good produced is equal to the value of goods not produced.
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LEAKAGES Non-consumption uses of aggregate income. The three uses of income grouped under the heading of leakages are saving, taxes, and imports. Leakages subtract from the core circular flow containing consumption, production, and income. The injections-leakages model is a Keynesian economics analysis that combines leakages with injections (investment expenditures, government purchases and exports) to identify the equilibrium level of aggregate production and income.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"The more you praise and celebrate your life, the more there is in life to celebrate." -- Oprah Winfrey
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MGE
Minneapolis Grain Exchange
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