False Shortage

False Shortage

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium of price and quantity.Since determinants of supply and demand other than the price of the good in question are not explicitly represented in the supply-demand diagram, changes in the values of these variables are represented by moving the supply and demand curves (often described as "shifts" in the curves). By contrast, responses to changes in the price of the good are represented as movements along unchanged supply and demand curves.show more

Product details

  • Paperback | 68 pages
  • 152 x 229 x 4mm | 113g
  • Populpublishing
  • United States
  • English
  • black & white illustrations
  • 6136208792
  • 9786136208794