Economics Chapter 6
Help
Equilibrium price is
the price that occurs when the quantity demanded is equal to the quantity supplied
If all else remains the same, a decrease in the demand for a good will decrease the
price
If a greater supply of labor were combined with decreased demand for labor, we might expect
wages to fall
Unlock this slideshow and over 2 million more with Baamboozle+
Try slideshows
Your experience on this site will be improved by allowing cookies.
Allow cookies