Examlex
The three-domain system
Equilibrium
A state in which market supply and demand balance each other, resulting in stable prices and quantities.
Positively Sloped
A line or curve on a graph that moves upward and to the right, indicating a direct relationship between two variables.
Negatively Sloped
Describes a line on a graph that moves downward from left to right, indicating an inverse relationship between two variables.
Total Surplus
The sum of consumer surplus and producer surplus, representing the total benefits to society from the trade of a good or service.
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