Examlex
Describe the structural-functionalist explanation for the existence of distinct male and female roles.
Producer Surplus
The variance between the price producers want to sell an item for and the price they end up receiving.
Equilibrium Price
The price point at which the quantity of a good or service supplied equals the quantity demanded.
Consumer Surplus
The disparity in what consumers are willing to invest in a good or service compared to what they eventually invest.
Demand Shifts
Occur when external factors lead to a change in the amount of a product or service that consumers are willing and able to buy at a given price, resulting in the demand curve moving rightward or leftward.
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