Examlex
What percent of adults attains Piaget's formal operational stage of cognitive development?
Supply Curve
A visual chart demonstrating the link between a product's price and the amount producers are willing to supply.
Movement
In economics, this can refer to changes in market conditions, such as price movements, or the migration of people or capital between regions or sectors.
Excess Supply
A situation where the quantity of a product offered for sale exceeds the quantity demanded at the current price, often leading to a decrease in price.
Market Equilibrium
Market Equilibrium is the point where the quantity of a good or service supplied equals the quantity demanded, leading to a stable market price.
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