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When does shortage and surplus occur?
A shortage occurs when quantity demand exceeds quantity supplied. A surplus occurs when quantity supplied exceeds quantity demanded.
When quantity demanded is more than quantity supplied?
Shortage occurs
What is equilibrium output?
It is the output of an economy that equates aggregate supply with aggregate demand.
What describes the situation that occurs when the equilibrium quantity has been reached?
There is no surplus or shortage
A trough in the business cycle occurs when.......?
Employment and output reach their lowest levels.
When does shortage and surplus occur?
A shortage occurs when quantity demand exceeds quantity supplied. A surplus occurs when quantity supplied exceeds quantity demanded.
Equilibrium level of national income is determined when aggregate demand equals aggregate supply and saving is equals to investment?
The equilibrium level of national income occurs when aggregate demand (AD) matches aggregate supply (AS), meaning the total quantity of goods and services produced equals the total quantity demanded. At this point, saving equals investment, indicating that any income not consumed is being invested back into the economy. This balance ensures that resources are efficiently allocated, leading to stable economic conditions. Disruptions in either AD or AS can shift the equilibrium, affecting national income levels.
When quantity demanded is more than quantity supplied?
Shortage occurs
What is equilibrium output?
It is the output of an economy that equates aggregate supply with aggregate demand.
What change of state occurs when a substance reaches it's melting point. What occurs when it reaches it's boiling point?
When a substance reaches its melting point it changes from solid to liquid. When a substance reaches its boiling point it changes from liquid to gas.
When the temperature in the atmosphere reaches the --------------------- condensation occurs?
Dew point
What are the most common problems in quantity food production?
The biggest problem that occurs with quantity food production is the loss of Quality.
Resonance occurs when?
When an object reaches it's own vibrating point!!
What happens when magma reaches earth surface and erupts?
an earhtquake occurs
Describes the situation that occurs when the equilibrium quantity has been reached?
There is no surplus or shortage
What describes the situation that occurs when the equilibrium quantity has been reached?
There is no surplus or shortage
A trough in the business cycle occurs when.......?
Employment and output reach their lowest levels.
