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Why Is the Word Equilibrium Used to Describe the Price

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Why is the word equilibrium used to describe the price determined by supply and demand in a market?


Definitions:

Sociological Definitions

The terms, concepts, and categories used by sociologists to describe, analyze, and understand social phenomena and human behavior.

White Immigrants

Individuals from predominantly white countries who migrate to a new country or region.

Colonial Times

A period in history when various European powers established colonies in other parts of the world, dominating and exploiting these territories and their peoples.

Panethnicity

A unity among various ethnic groups, typically in the context of politics or social movement, which emphasizes commonalities and shared experiences.

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