Equilibrium Essay

365 words - 2 pages

Equilibrium is a "moving target" because of the constant fluctuation of supply and demand over time. Equilibrium is defined as: the point at which quantity demanded and quantity supplied are equal. Although this definition seems fairly simple, many people tend to overlook how supply and demand of a known product tends to be migratory and is never constant.Equilibrium never seems to stay in one place for a many of reasons, one such reason is the change ...view middle of the document...

Because of a high demand and its inelasticity, the Playstation 2 was first sold at an alarming 300 dollars and many stores sold out on the first day. However, as more and more people manage to obtain the Playstation 2, the demand for this gaming system began to drop and in order to prevent an excess supply, all of the stores that sold this electronic had reduce the price in order to achieve equilibrium. Nowadays, the Sony Playstation 2 is sold of 150 dollars and supply for it is stable.However, prices are not the only factors in which equilibrium tends to move. A fall in supply can also greatly affect the equilibrium of a product in the market. An example could be the rise and fall of Pokemon cards around 5 years ago. When first released, the cards were considered a "must have," and demand for these cards skyrocketed. Because of the demand being so lofty, the current supply of these cards couldn't keep up. So because of the shortage of these cards, equilibrium had to be adjusted to satisfy the needs for the consumers and the suppliers as well.Equilibrium can be controlled by smart decisions and precise planning for the future.. Although there are many factors in equilibrium, as long as you consider all of the major factors, profit is just around the corner.

Other Essays On Equilibrium

Explanation Of Minimum Wage Through Economics

365 words - 2 pages number of positions available for the job will be limited. The equilibrium price is the wage in which there are just enough people willing to work as there are positions available. As the government imposes minimum wage, the supply and demand of jobs is disturbed. This floor price of minimum wage does not allow pay rates to fall below the set price into equilibriu causing the offset of workers to positions available. Employers have the same amount of

Supply And Demand Simulation Essay

852 words - 4 pages economic factors. Changes in supply and demand, as well as equilibrium, are microeconomic concepts that impacted the way the company operated its small apartment market. Price elasticity and price ceilings are macroeconomic concepts that impacted the apartment market in that region.The simulation demonstrated how a shift in the supply or demand curve could contribute to significant changes to the economic environment. For example, if the demand

Bio Lab Report

660 words - 3 pages less water. This solution will gain water, while losing solute. This movement between the hypotonic and hypertonic solutions will continue until the point of dynamic equilibrium is reached.Materials:String or rubber band wax pencil30% glucose solution starch solutionI2KI solutionBenedict's reagentHot plate300mL beaker 1/3 filled with waterHandheld test tube3 standard test tubeDisposable transfer pipette2 400 mL beakers to hold dialysis bag30-cm

Circular Flow Of Income

1686 words - 7 pages economic activity. Injections include: investment, government expenditure and exports. Equilibrium Equilibrium occurs when the total value of leakages are equal to the total value of injections in the circular flow. This can be seen by the equation: Disequilibrium occurs when there is an inequality between the sum of leakages and sum of injections. When leakages are greater than injections there is a downturn in the level of economic

Using The AD-AS Model, Explain The Possible Effects Of A Sustained Appreciation Of The Local Currency On The Government's Macroeconomic Objective

930 words - 4 pages Assume that initially the economy is at the equilibrium level of output where aggregate demand equal to aggregate supply and this is shown diagrammatically below.Aggregate demand is the quantity of total output demanded at a given price level and comprises total of all the consumption and investment goods and services as well as the required goods and services of the government and net exports. A sustained appreciation of the local currency

How A Pogo Stick Works

1672 words - 7 pages rest and has no other forces acting on it there is an equilibrium point. This is the point on a spring where it goes back to if you compact or stretch out the spring. You can use springs to store elastic potential energy for later. For instance if you take a spring and compress it then let it go it will restore itself to its equilibrium position. The equilibrium point also allows you to tell how big of vibrations the spring is making

Crayfish, The A Complete Classification, Habitat, Predator And Prey, Body Plan, Nervous System, Circulatory System, Digestive System, And Respiratory System

654 words - 3 pages response to sensory input received from receptors. Receptors are organs that receive senses and pass these to the brain. Examples are the eyes, antennas, and ears. The tactile recoptors are widley distributed on appendages and joint as they function as equilibrium, balance, and position senses.Circulatory SystemThere is a dorsal tubular heart and several arteries. The crayfish has an open circulatory system in which the blood flows from arteries

Resource Mobilzationand Economic Gowth

1535 words - 7 pages development models and real world outcomes, so grew doubts that this kind of reductionism could interpret the world in any substantive way.It is important to note that these doubts not only came from the margins of development thought but also from within the ranks of traditional economic academia as well. Nicholas Kaldor, one of the latter-half of the century's leading contributors to the development of equilibrium theory, shares Kenney and

In Specific, The Mass Of A Volatile Unknown Liquid Was Discovered With The Use Of The Calorimeter

1015 words - 5 pages to approximately 100 degrees Celsius. We will then measure out a mass of water into a calorimeter, and place the heated metal inside. We will record both the initial and final (equilibrium) temperatures of the water and metal. From these pieces of data, we will be able to calculate the specific heat of the metal, as well as the molar mass. Theory: It takes exactly 4.18 joules to heat one gram of water by one degree Celsius. This fact, the

Group Effectiveness In Communication

856 words - 4 pages & Johnson p.141)".Another reason I feel my group to be effective coincides with Bale's equilibrium theory. We have a job to do, which can be hard sometimes emotionally. We all must be exposed to disturbing things in order to help. Our tasks and projects get accomplished right on target (most days), yet it doesn't end there. There is much follow up assessing to be done, which often times spawns feelings of despair and powerlessness. We have the

Revenue, Cost Concepts, And Market Structure Proposal

1458 words - 6 pages offering $15 per unit at the equilibrium price, the demand of the Alpha cell phone will increase; resulting in Clear Hear to increase its supply by either expanding its facilities or outsourcing their Alpha cell phones to meet the new market supply and demand. Clear Hear would probably receive a reasonable price if they were to outsource 100% of the cell phones to AM. Moreover, another alternative for Clear Hear would be to implement new changes to the

Similar Papers

Chemical Equilibrium Essay

2618 words - 11 pages International University, Vietnam National University - HCMC GENERAL CHEMISTRY LABORATORY 1 1 REPORT EXPERIMENT 4: CHEMICAL EQUILIBRIUM Group: ____3______ Section: ___4______ Date: ___13/11/2014____ Group members: ____Đặng Thị Lệ Hằng________ ____Ngô Hoàng Huân_______ ____Lê Thị Thùy Hương_____ _______________________________ Score:__________ International University

The Earth Is Said To Be In A State Of "Dynamic Equilibrium." Explain?

277 words - 2 pages sedimentary rocks, which can then be uplifted and eroded again.The equilibrium part relates to how these 2 processes are more or less in balance. Sure, in any given place either tectonics or erosion might be winning, but on a global scale (as well as a geologic time scale) they are in balance, and will continue to be until one of two things happen: either the hydrosphere will go away and we'll have no water to perform the magic of erosion, or the earth's internal heat will die, effectively ending the earth's ability to uplift mountains above sea level.

Haber Process Essay

526 words - 3 pages increases the presence of Nitrogen and Hydrogen.The industrial conditions for producing ammonia the temperature must be 450ºC to 500ºC. The forward reaction is exothermic. If we remove heat as a product will result in the equilibrium mixture making richer ammonia. Since we want ammonia from the Haber process, the reaction conducted at 450ºC. Because all reactions go faster if the temperature is raised. Reversible reactions, such as

Labor Market Scenario Essay

496 words - 2 pages labor supply decreases the equilibrium of the labor market in the health care industry is affected adversely. In order to raise labor supply in the health care industry to meet labor demand wage adjustments will have to be made. An increase in equilibrium wage will cause an increase in labor supply whereby labor demand will decrease, and eventually there will be a balance in labor supply and labor demand to bring equilibrium back to the labor