神马作文网请用英文定义以下三个专有名词
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请用英文定义以下三个专有名词
Define the following:
A.Money Price
B.Relative Price
C.Equilibrium Price
Define the following:
A.Money Price
B.Relative Price
C.Equilibrium Price
Relative price is the price of a commodity such as a good or service in terms of another; ie,the ratio of two prices.A relative price may be expressed in terms of a ratio between any two prices or the ratio between the price of one particular good and a weighted average of all other goods available in the market.A relative price is an opportunity cost.Microeconomics can be seen as the study of how economic agents react to changes in relative prices
In economics,economic equilibrium is simply a state of the world where economic forces are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.It is the point at which quantity demanded and quantity supplied are equal.[1] Market equilibrium,for example,refers to a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers.This price is often called the equilibrium price or market clearing price and will tend not to change unless demand or supply change
In economics,economic equilibrium is simply a state of the world where economic forces are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.It is the point at which quantity demanded and quantity supplied are equal.[1] Market equilibrium,for example,refers to a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers.This price is often called the equilibrium price or market clearing price and will tend not to change unless demand or supply change