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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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SHORT-RUN 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 period of time in which some prices, especially wages, are rigid, inflexible, or otherwise in the process of adjusting. Short-run aggregate supply, commonly abbreviated SRAS, is one of two aggregate supply alternatives, distinguished by the degree of price flexibility. The other is long-run aggregate supply. Short-run aggregate supply is combined with aggregate demand in the short-run aggregate market analysis used to analyze business-cycle instability, unemployment, inflation, government stabilization policies, and related macroeconomic topics.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The average length of a "business lunch" is about 36 minutes.
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"Live in such a way that you would not be ashamed to sell your parrot to the town gossip." -- Will Rogers
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RCPC
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