Describe What Would Happen in a Market If the Current

question 200

Essay

Describe what would happen in a market if the current price were above the equilibrium price (assume no government interference).Using the same assumptions, describe what would happen if the current price were below the equilibrium price.Use a graph to explain your answer.

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Definitions:

Balance

The ability to maintain the body's center of mass over its base of support, a function largely managed by the cerebellum and inner ear.

Eye Movements

The voluntary or involuntary movement of the eyes, helping in acquiring, fixating and tracking visual stimuli.

Pacinian Corpuscles

Sensory receptors found deep in the skin and other tissues that detect pressure and vibration.

Pressure

The force exerted by an object against a surface or the stress within substances influenced by external or internal forces.