Examlex
As soon as Dr. Semmelweis figured out that sterilization of hands dramatically reduces incidences of childbed fever, why didn't all hospitals adopt the practice?
World Price
The international market price of a good or service, determined by global supply and demand conditions.
Consumer Surplus
The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.
Equilibrium
A state in which market supply and demand balance each other, and as a result, prices become stable.
Market
A venue or mechanism where buyers and sellers come together to exchange goods, services, or information.
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