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Econ in Voyda - Economics Terminology

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Econ terms

Created Date 11.19.19
Last Updated 11.20.19
Viewed 16 Times
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Topics of this game:
  • The point at which quantity demand it in quantity supplied are equal
  • Any point at which quantity demanded and quantity supplied are not equal
  • A maximum price that may be legally charged for certain goods
  • A situation in which quantity supplied is greater than quantity demanded
  • A minimum price that must be charge for certain goods
  • A situation in which quantity demanded is greater than quantity supplied
  • A market structure in which a single producer supplies a unique product
  • A market structure in which a few large firms dominate the market
  • A product that is the same no matter who produces it
  • Factors that cause a producers average cost per unit to fall as output rises
  • An agreement among firms to divide a market set prices or limit production
  • A market structure in which many producers supply a similar or identical product to many buyers