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macroeconomics > lesson 6 - equillibrium > Flashcards

lesson 6 - equillibrium Flashcards

1
Q

market

A

interaction of buyers and sellers

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2
Q

shortage

A

quantity demanded is greater than quantity supplied

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3
Q

surplus

A

quantity supplied greater than quantity demanded

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4
Q

equillibrium

A

qs = qd

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5
Q

disequillibrium

A

qs =/ qd

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6
Q

equillibrium price

A

the price in which qs = qd

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7
Q

equillibrium quantity

A

the quantity in which qd = qs

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macroeconomics (16 decks)

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