Macroeconomics : Supply & Demand
This assignment requires the student to describe equilibrium, surplus, and shortage, explain the relationship between Qd and Qs, and between Supply and Demand curves. It also asks for the causes of shortages and surpluses in a free market, and examples of real-world shortages and surpluses. Additionally, the student needs to explain why surpluses and shortages are inefficient and how and why we return to equilibrium in the case of a surplus or shortage.
Added on 2022-08-13
Macroeconomics : Supply & Demand
This assignment requires the student to describe equilibrium, surplus, and shortage, explain the relationship between Qd and Qs, and between Supply and Demand curves. It also asks for the causes of shortages and surpluses in a free market, and examples of real-world shortages and surpluses. Additionally, the student needs to explain why surpluses and shortages are inefficient and how and why we return to equilibrium in the case of a surplus or shortage.
Added on 2022-08-13
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