2.4: Market Equilibrium: Demand and Supply

Flashcards by Jasmine Wells, created more than 1 year ago

International Baccalaureate Economics (Chapter 2: Competitive markets: Demand and Supply) Flashcards on 2.4: Market Equilibrium: Demand and Supply , created by Jasmine Wells on 04/10/2015.

	Created by Jasmine Wells about 9 years ago

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Define surplus

What does a surplus cause?

Define shortage

What does a shortage of goods cause?

Define Market Equilibrium.