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What is the impact of a shortage on the equilibrium price and quantity in an economic market?
A shortage in an economic market leads to an increase in the equilibrium price and a decrease in the equilibrium quantity.
What is price equilibrium or market equilibrium?
Price equilibrium, or market equilibrium, occurs when the quantity of a good or service demanded by consumers equals the quantity supplied by producers at a specific price level. At this point, there is no tendency for the price to change, as the market clears, meaning all goods produced are sold. If the price is above equilibrium, excess supply leads to downward pressure on prices, while prices below equilibrium create excess demand, pushing prices up. Thus, market equilibrium represents a stable state in economic transactions.
Distinguish between general equilibrium partial equilibrium analysis?
Partial Equilibrium, studies equilibrium of individual firm, consumer, seller and industry. It studies one variable in isolation keeping all the other variables constant.General Equilibrium, studies a number of economic variable, their inter relation and inter dependencies for understanding the economic system.
What economic situation exists when a business is able to sell exactly as many products as it is able to produce?
Economic equilibrium!
What describes the situation that occurs when the equilibrium quantity has been reached?
There is no surplus or shortage
What is the impact of a shortage on the equilibrium price and quantity in an economic market?
A shortage in an economic market leads to an increase in the equilibrium price and a decrease in the equilibrium quantity.
Type of equilibrium that occurs when allel frequencies do not change?
the type of equilibrium that occurs when an allele frequencies do not change is dynamic equilibrium :)
Is internal equilibrium from quasi equilibrium?
No, internal equilibrium is not the same as quasi equilibrium. Internal equilibrium refers to a system being in a state where there is no net change in composition, while quasi equilibrium refers to a process that occurs almost at equilibrium, but not necessarily at the exact equilibrium point.
What are the differences between stable equilibrium and unstable equilibrium in a system?
In a system, stable equilibrium occurs when a small disturbance causes the system to return to its original state. Unstable equilibrium, on the other hand, occurs when a small disturbance causes the system to move away from its original state.
Distinguish between general equilibrium partial equilibrium analysis?
Partial Equilibrium, studies equilibrium of individual firm, consumer, seller and industry. It studies one variable in isolation keeping all the other variables constant.General Equilibrium, studies a number of economic variable, their inter relation and inter dependencies for understanding the economic system.
Hypothesis that speciation occurs in rapid bursts?
Punctuated equilibrium
What is evolution that occurs in short rapid bursts?
Punctuated equilibrium
Does dynamic equilibrium always happen when a change occurs?
No, this is not necessarily.
What are the key differences between unstable and stable equilibrium in a system?
In a system, unstable equilibrium occurs when a small disturbance causes the system to move further away from its original position, while stable equilibrium occurs when a small disturbance causes the system to return to its original position. The key difference lies in how the system responds to disturbances, with unstable equilibrium leading to further movement away from equilibrium and stable equilibrium leading to a return to equilibrium.
When does an equilibrium occur?
An equilibrium occurs when the rate of the forward reaction equals the rate of the reverse reaction. This means that the concentrations of reactants and products remain constant over time. Equilibrium can only be reached in a closed system under certain conditions, such as constant temperature and pressure.
What is the type of equilibrium that occurs when allele frequencies do not change?
The type of equilibrium where allele frequencies do not change is called Hardy-Weinberg equilibrium. This equilibrium occurs in an idealized population where certain assumptions are met, such as random mating, no mutation, no migration, no natural selection, and a large population size. In Hardy-Weinberg equilibrium, the genotype frequencies can be predicted using the allele frequencies.
Which equilibrium at one atmosphere pressure is correctly associated with Kelvin temperature at which it occurs?
Steam-water equilibrium at 373 K Sources: Castle learning (: -T.A.G.
