Examlex
The income statement for a merchandising company presents only two amounts not shown on a service company income statement.
Market Price
The current price at which an asset or service can be bought or sold in the open market.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.
Demand
The willingness and ability of consumers to purchase goods or services at a given price level.
Supply
The complete quantity of a product or service that can be bought at a particular price point.
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