Examlex
Explain what is meant by a personality trait, and describe the five-factor model of personality.
Market Price
The market rate for buying or selling an asset or service in a public trading environment.
Producer Surplus
The gap between the minimum amount sellers are prepared to accept for a product or service and the actual payment they get.
Equilibrium
The point at which the quantity of a product or service demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.
Market Equilibrium
The condition in which a market's supply and demand balance each other, and as a result, prices become stable.
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