Asked by Kennedy Ellison on May 19, 2024
Verified
A mismatch between quantity demanded and quantity supplied will always force a price change.
Mismatch
A situation where there is a discrepancy or lack of alignment between two or more factors, often leading to inefficiency.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level in a market.
Quantity Supplied
The amount of a good or service that producers are willing and able to sell at a given price over a certain period of time.
- Understand the circumstances leading to market instability and the ways in which markets adapt to alterations.
- Familiarize yourself with the foundational theories of supply and demand, especially how curves shift due to external contingencies.
Verified Answer
Learning Objectives
- Understand the circumstances leading to market instability and the ways in which markets adapt to alterations.
- Familiarize yourself with the foundational theories of supply and demand, especially how curves shift due to external contingencies.
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