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Equilibrium in a market

Equilibrium in a market

Supply and demand diagram with price on the vertical axis, quantity on the horizontal axis, equilibrium at the intersection, surplus above equilibrium, and shortage below equilibrium A market brings buyers and sellers together. In a standard diagram, price is on the vertical axis, quantity is on the horizontal axis, the demand curve slopes down, and the supply curve slopes up.

1.2.6 Price determination Lesson

  1. A Level
  2. /Economics
  3. /1.2.6 Price determination