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MARKET CLEARING: The price and quantity that equates the quantity demanded and quantity supplied; equates the demand price and supply price; and achieves market equilibrium. In other words, the market is "cleared" of shortages and surpluses.

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INEFFICIENT

The state of resource allocation that exists when the highest level of consumer satisfaction is not achieved from available resources. This state occurs in market exchanges if the price buyers are willing and able to pay for a good does not reflect the satisfaction everyone obtains from the consuming the good or if the price sellers need to charge for a good does not reflect all opportunity cost of producing the good.

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APLS

GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time watching infomercials looking to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for infected paper cuts.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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American Bankers Association, Associate in Business Administration
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