What you’ll learn to do: explain market equilibrium, surplus, and shortage

In this section, you’ll learn how supply and demand interact to determine the price in a market.

The specific things you’ll learn in this section include the following:

  • Explain equilibrium price and quantity
  • Explain surpluses and shortages

License

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MGMT-1010: Introduction to Business Copyright © by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.