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BUYERS' MARKET: A disequilibrium condition in a competitive market that has a surplus, such that buyers are able to force the price down. Note that a buyers' market does not mean that a lack of competition among demanders have given buyers market control. A buyers' market is a competitive market that simply has a temporary imbalance between the quantity demanded by the buyers and the quantity supplied by the sellers. The buyers' market phrase is commonly used (mainly by real world noneconomist types) to describe a surplus in real estate or housing markets. It's also commonly used when describing assorted financial markets. You might want to examine the opposite of a buyers' market, which is a sellers' market. Additional information on the real estate market can be found in the entry on building cycle.
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AGGREGATE SUPPLY The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a given time period. Aggregate supply, usually abbreviated AS, is two different relations between price level and real production--long run and short run. With long-run aggregate supply, prices and wages are flexible and all markets are in equilibrium. With short-run aggregate supply some prices and wage are NOT flexible and some markets are NOT in equilibrium. This is one half of the AS-AD (aggregate market) analysis. The other half is aggregate demand.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for slightly overweight pizza delivery guys.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals." -- Sir Edmund Hillary, Explorer
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SEHK
Stock Exchange of Hong Kong
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