The market equilibrium or market clearing price is the price that equalises the demand for a product and the supply of the product. It is one which is static and exhibits no tendency to change. At the equilibrium price the number of consumers who are willing and able to purchase the product is equal to the number of products that firms are willing to supply.
queen babito answered the question on July 9, 2018 at 06:01
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Explain what is meant by productive and allocative efficiency
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Explain what is meant by productive and allocative efficiency
Date posted:
July 8, 2018
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Critically examine the impact of globalisation on Less Developed Countries (LDCs)
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July 8, 2018
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Critically examine the view that a deficit on the current account of the balance of payments is of no economic significance.
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Critically examine the view that a deficit on the current account of the balance of payments is of no economic significance.
Date posted:
July 8, 2018
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Explain the difference between fixed and floating exchange rates.
Date posted:
July 8, 2018
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Explain how the short run price and output decisions of a profit maximising firm would differ from those of a revenue maximising firm
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Date posted:
July 8, 2018
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Date posted:
July 8, 2018
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(Solved)
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Date posted:
July 8, 2018
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Evaluate the policies that governments could use to deal with market dominance and the abuse of monopoly power
Date posted:
July 8, 2018
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Explain why some industries are natural monopolies.
Date posted:
July 8, 2018
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Answers (1)
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Analyse how government policy could reduce income inequality.
Date posted:
July 6, 2018
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(Solved)
Explain what is meant by the distribution of income.
Date posted:
July 6, 2018
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Using appropriate examples, explain some of the methods a government could use to increase the consumption of merit goods.
(Solved)
Using appropriate examples, explain some of the methods a government could use to increase the consumption of merit goods.
Date posted:
July 6, 2018
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(Solved)
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Date posted:
July 6, 2018
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(Solved)
Critically examine the view that the government should not intervene in labour markets.
Date posted:
July 6, 2018
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Analyse how labour markets might be affected by a decrease in the supply of migrant workers.
(Solved)
Analyse how labour markets might be affected by a decrease in the supply of migrant workers.
Date posted:
July 6, 2018
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Answers (1)
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Evaluate the view that trade liberalisation alone is insufficient to ensure development of poorer countries.
Date posted:
July 6, 2018
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(Solved)
Explain the roles of the International Monetary Fund and the World Bank.
Date posted:
July 6, 2018
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Critically examine the desirability of the world’s major economies introducing a system of fixed exchange rates.
(Solved)
Critically examine the desirability of the world’s major economies introducing a system of fixed exchange rates.
Date posted:
July 6, 2018
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Answers (1)
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(Solved)
Explain the main reasons why nations engage in international trade
Date posted:
July 6, 2018
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Answers (1)
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(Solved)
Explain the shape of a firm’s short-run average and marginal cost curves.
Date posted:
July 6, 2018
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Answers (1)