1
Q
How does equilibrium price get decided by demand and supply
A
An increase in demand and a decrease in supply will cause an increase in equilibrium price
2
Q
A
MicroEconomics
flashcards
Decks in class (13)
# Cards
-
The Importance of market structure11
-
Economic activity10
-
Factors of Production7
-
Making Economic Choices2
-
Markets + Allocation of resources4
-
Economic Sectors4
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Specialisation + Division of Labour5
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Demand of goods/services2
-
Supply of goods/services2
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Equilibrium Price2
-
Market Failure20
-
Economies Of Scale8
-
Diseconomies Of Scale4
