Examlex
How many molecules of N2 are in a 400.0 mL container at 1.0399 bar and 135 °C?
Equilibrium Price
The cost at which the amount of products offered matches the amount of products requested.
Equilibrium Quantity
The quantity of goods supplied that is exactly equal to the quantity of goods demanded at the market equilibrium price.
Invisible Hand Principle
Adam Smith's concept that self-interested behaviors in a free-market economy lead to economic benefits for all.
Competitive Markets
Markets characterized by a high level of competition where no single buyer or seller can influence prices significantly, leading to efficient distribution of resources.
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