| 单词 | market equilibrium |
| 释义 | market equilibrium The situation when supply and demand in a market are equal at the prevailing price. The equilibrium price is determined by supply and demand. DD is the market demand curve, which is downward sloping. SS is the market supply curve: this must be upward-sloping, or possibly horizontal, for a competitive market to exist. E is the equilibrium point, where the supply curve SS and the demand curve DD intersect. At any other point, there is some form of disequilibrium. In Zone I, an excess of the price which customers are willing to pay over the price at which producers are willing to provide supplies leads to an increase in quantity. In Zone II, an excess of supply over demand at a given price leads market-makers to cut prices. In Zone III, an excess of the price at which producers are willing to provide supplies over the price which customers are willing to pay leads to a fall in quantity. In Zone IV, an excess of demand over supply leads market-makers to increase prices. |
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