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ECON 2302 > FORMULAS > Flashcards

FORMULAS Flashcards

1
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

A

QuantityDemanded - Price(P) = QuantitySupplied + Price(P)

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2
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

? - Price(P) = QuantitySupplied + Price(P)

A

QuantityDemanded

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3
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

QuantityDemanded ? Price(P) = QuantitySupplied + Price(P)

A

-

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4
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

QuantityDemanded - ?(P) = QuantitySupplied + Price(P)

A

Price

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5
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

QuantityDemanded - Price(?) = QuantitySupplied + Price(P)

A

P

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6
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

QuantityDemanded - Price(P) = ? + Price(P)

A

QuantitySupplied

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7
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

QuantityDemanded - Price(P) = QuantitySupplied ? Price(P)

A

+

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8
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

Solve for what variable?

A

P

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9
Q

QuantityDemanded - Price(P) = QuantitySupplied + Price(P)

THIS IS THE FORMULA FOR FINDING WHAT?

A

EQUILIBRIUM PRICE WHEN TRADE CLOSED

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10
Q

FORMULA: CONSUMPTION WHEN TRADE OPEN

A

QuantityDemanded - Price(WorldPrice)

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11
Q

FORMULA: QUANTITY SUPPLIED WHEN TRADE OPEN

A

QuantitySupplied + Price(WorldPrice)

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12
Q

FORMULA: IMPORTS WHEN TRADE OPEN

A

[QuantityDemanded - Price(P) = QuantitySupplied + Price(P)]

—>

QD - QS

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13
Q

FORMULA: IMPORTS WHEN TRADE OPEN

? - Price(P) = QuantitySupplied + Price(P)

A

QuantityDemanded

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14
Q

QuantityDemanded ? Price(P) = QuantitySupplied + Price(P)

A

-

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15
Q

QuantityDemanded - ?(P) = QuantitySupplied + Price(P)

A

Price

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16
Q

QuantityDemanded - Price(?) = QuantitySupplied + Price(P)

A

WorldPrice

17
Q

QuantityDemanded - Price(P) = ? + Price(P)

A

QuantitySupplied

18
Q

QuantityDemanded - Price(P) = QuantitySupplied ? Price(P)

A

+

19
Q

QuantityDemanded - Price(P) = QuantitySupplied + ?(P)

A

Price

20
Q

QuantityDemanded - Price(P) = QuantitySupplied + Price(?)

A

WorldPrice

21
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

QuantityDemanded - Price(P) = QuantitySupplied + ?(P)

A

Price

22
Q

FORMULA: EQUILIBRIUM PRICE WHEN TRADE CLOSED

QuantityDemanded - Price(P) = QuantitySupplied + Price(?)

A

P

ECON 2302 (8 decks)

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