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Economics

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The market is considered to be _____ (black market/equilibrium/disequilibrium/non-competitive) if quantity demanded does not equal quantity supplied.

I'm not sure what the answer is... I narrowed it down to either disequilibrium or non-competitive. Disequilibrium because Qd =/= Qs. Non-competitive because if it's not in equilibrium, then that means the firms are not price takers in the market.

What is the right answer?

  • Economics - ,

    My son (who works in/on the market) writes:

    "I would stick with disequilibrium. Is that really a word?

    "The market is always either undersupplied or oversupplied. This is what makes stocks move up or down."

  • Economics - ,

    I agree; disequilibrium.

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