Examlex
A market is people or organizations that have:
Equilibrium Price
The price at which the quantity of goods suppliers are willing to sell equals the quantity consumers are willing to buy, also known as the market-clearing price.
Quantity Supplied
The quantity of a product or service that suppliers are ready and capable of offering for sale at a specific price point.
Quantity Demanded
The total number of units of a good or service that consumers are willing and able to purchase at a given price in a given time period.
Increase in Demand
A situation in which more of a product or service is desired, leading to a shift of the demand curve to the right.
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