1 april 2019
Get to know Basic Concepts: -- Equilibrium is a situation in which opposing forces balance each other. Equilibrium in a market occurs when the price balances the plans of buyers and sellers. --The equilibrium price is the price at which the quantity demanded equals the quantity supplied. --The equilibrium quantity is the quantity bought and sold at the equilibrium price.
Ning Ding
Learning objectives: – Explain the effect, of factors influencing aggregate demand, on real GDP and price level. – Explain how long-run macroeconomic is established via the labour market.