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MARKET SHOCK: A disruption of market equilibrium (that is, a market adjustment) caused by a change in a demand determinant (and a shift of the demand curve) or a change in a supply determinant (and a shift of the supply curve). A market shock can take one of four forms--an demand increase, demand decrease, supply increase, or supply decrease. An increase is seen as a rightward shift of either curve and results in an increase in equilibrium quantity. A decrease is a leftward shift of either curve and results in a decrease in equilibrium quantity. However, a change in demand results in price and quantity to change in the same direction, while a change in supply causes equilibrium price to move the opposite direction as quantity.
Visit the GLOSS*arama
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ORANGE REBELOON [What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for the happiest person in the room. Your Complete Scope
This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"The past cannot be changed. The future is yet in your power. " -- Hugh White, U.S. Senator
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GAB General Agreements to Borrow
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