What is Equilibrium
What do you mean by the term Equilibrium? Also state its proper definition.
Expert
Equilibrium:
A) It is the point where supply and demand curves intersect is termed as the market’s equilibrium.
B) Definition of equilibrium: It is a condition in which the price has reached the level where quantity supplied equivalents quantity demanded.
A prosperous person who made higher and higher incomes yearly would possibly benefit most from: (w) proportional tax system. (x) progressive tax system, much like the one in place today. (y) regressive tax system. (z) fixed percentage tax system. Q : Definition of surplus Definition of Definition of surplus: It is a condition in which quantity supplied is more than quantity demanded. To remove the surplus, producers will minimize the price till the market reaches to equilibrium.
Definition of surplus: It is a condition in which quantity supplied is more than quantity demanded. To remove the surplus, producers will minimize the price till the market reaches to equilibrium.
When speculators are right, their actions: (1) Cause already depressed prices to drop/fall further. (2) Raise the risks to another firm of doing business. (3) Prevent price refuses from their peaks. (4) Reduce both the phase of prices and their volatility across time.
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