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  2. Economic equilibrium - Wikipedia

    en.wikipedia.org/wiki/Economic_equilibrium

    An economic equilibrium is a situation when the economic agent cannot change the situation by adopting any strategy. ... The equilibrium price in the market is $5.00 ...

  3. Supply and demand - Wikipedia

    en.wikipedia.org/wiki/Supply_and_demand

    This would cause the entire demand curve to shift changing the equilibrium price and quantity. Note in the diagram that the shift of the demand curve, by causing a new equilibrium price to emerge, resulted in movement along the supply curve from the point (Q 1, P 1) to the point (Q 2, P 2).

  4. General equilibrium theory - Wikipedia

    en.wikipedia.org/wiki/General_equilibrium_theory

    In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium.

  5. Effect of taxes and subsidies on price - Wikipedia

    en.wikipedia.org/wiki/Effect_of_taxes_and...

    The original equilibrium price is $3.00 and the equilibrium quantity is 100. The government then levies a tax of $0.50 on the sellers. This leads to a new supply curve which is shifted upward by $0.50 compared to the original supply curve. The new equilibrium price will sit between $3.00 and $3.50 and the equilibrium quantity will decrease.

  6. Market clearing - Wikipedia

    en.wikipedia.org/wiki/Market_clearing

    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 ...

  7. Price floor - Wikipedia

    en.wikipedia.org/wiki/Price_floor

    The equilibrium price, commonly called the "market price", is the price where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change, often described as the point at which quantity demanded and quantity supplied are equal (in a perfectly ...

  8. Walras's law - Wikipedia

    en.wikipedia.org/wiki/Walras's_law

    Walras's law is a principle in general equilibrium theory asserting that budget constraints imply that the values of excess demand (or, conversely, excess market supplies) must sum to zero regardless of whether the prices are general equilibrium prices.

  9. Arrow–Debreu model - Wikipedia

    en.wikipedia.org/wiki/Arrow–Debreu_model

    In mathematical economics, the Arrow–Debreu model is a theoretical general equilibrium model. It posits that under certain economic assumptions (convex preferences, perfect competition, and demand independence), there must be a set of prices such that aggregate supplies will equal aggregate demands for every commodity in the economy.