Lernkarten

Karten 17 Karten
Lernende 4 Lernende
Sprache English
Stufe Universität
Erstellt / Aktualisiert 17.11.2012 / 24.06.2020
Lizenzierung Kein Urheberrechtsschutz (CC0)
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0 Exakte Antworten 17 Text Antworten 0 Multiple Choice Antworten
Fenster schliessen

Supply curve

Relationship between the quantity (x) of a good that producers are willing to sell and the price (y) of the good

Fenster schliessen

demand curve

Relationship between the quantity of a good that

consumers are willing to buy and the price of the good.

Fenster schliessen

substitutes

Two goods for which an increase in the price of one leads to an increase in the quantity demanded of the other.

Fenster schliessen

complements

Two goods for which an increase in the price of one leads to a decrease in the quantity demanded of the other.

Fenster schliessen

equilibrium (market clearing price)

Price that equates the quantity supplied to the quantity demanded.

Fenster schliessen

market mechanism

Tendency in a free market for price to change until the market clears.

Fenster schliessen

surplus

Situation in which the quantity supplied exceeds the quantity demanded.

Fenster schliessen

shortage

Situation in which the quantity demanded exceeds the quantity supplied.