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DISEQUILIBRIUM, MARKET: A state of the market that exists when the opposing forces of demand and supply do not balance out and there is an inherent tendency for change. This should be directly (and immediately) contrasted with the entries on equilibrium and market equilibrium. For the market, disequilibrium is indicated by the existence of either a surplus or a shortage. The inherent tendency to change occurs because a surplus causes the price to decline and a shortage causes the price to rise. So long as market disequilibrium persists, the price will be induced to change.

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COMPETITION

In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.

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BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time at a garage sale trying to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?

Al Capone's business card said he was a used furniture dealer.
"Whenever you see a successful business, someone once made a courageous decision."

-- Peter F. Drucker, business strategist

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