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A chart pattern or price pattern is a pattern within a chart when prices are graphed. In stock and commodity markets trading, chart pattern studies play a large role during technical analysis. When data is plotted there is usually a pattern which naturally occurs and repeats over a period. Chart patterns are used as either reversal or ...
A demand curve is a graph depicting the inverse demand function, [ 1] a relationship between the price of a certain commodity (the y -axis) and the quantity of that commodity that is demanded at that price (the x -axis). Demand curves can be used either for the price-quantity relationship for an individual consumer (an individual demand curve ...
Market value. Market value or OMV ( Open Market Valuation) is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and differ in some circumstances.
In economics, the long-run is a theoretical concept in which all markets are in equilibrium, and all prices and quantities have fully adjusted and are in equilibrium. The long-run contrasts with the short-run, in which there are some constraints and markets are not fully in equilibrium. More specifically, in microeconomics there are no fixed ...
A market-clearing price is the price of a good or service at which the quantity supplied equals the quantity demanded, also called the equilibrium price. [2] The theory claims that markets tend to move toward this price. Supply is fixed for a one-time sale of goods, so the market-clearing price is simply the maximum price at which all items can ...
Law of supply. The law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in sales price results in an increase in quantity supplied. [ 1] In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.
t. e. In economics, elasticity measures the responsiveness of one economic variable to a change in another. [ 1] If the price elasticity of the demand of something is -2, a 10% increase in price causes the quantity demanded to fall by 20%. Elasticity in economics provides an understanding of changes in the behavior of the buyers and sellers ...
Economic graph. The social science of economics makes extensive use of graphs to better illustrate the economic principles and trends it is attempting to explain. Those graphs have specific qualities that are not often found (or are not often found in such combinations) in other sciences. The supply and demand model describes how prices vary as ...