Lernkarten
26 Exakte Antworten
0 Text Antworten
0 Multiple Choice Antworten
Supply
The desire and ability to produce and sell a product.
Market Equilibrium
It occurs when the quantity demanded and the quantity supplied at a particular price are equal.
Equilibrium price
The price at which the quantity demanded and the quantity supplied are equal.
Surplus
The result of quantity supplied being greater than quantity demanded.
Shortage
The result of quantity demanded being greater than quantity supplied.
Disequilibrium
It occurs when quantity demanded and quantity supplied are not in balance.
Competitive pricing
It occurs when producers sell products at lower prices to lure customers away from rival producers, while still making a profit.
Incentive
It encourages people to act in certain ways.
