Examlex
Which territory had two competing governments in the 1850s?
Equilibrium Price
The equilibrium price is the market price at which the supply of an item equals its demand, leading to stable market conditions.
Market Imbalances
Situations where the quantity supplied of a good does not equal the quantity demanded, leading to surpluses or shortages.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price.
Market Equilibrium
The state in economics where the supply of goods matches demand, leading to stable prices.
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