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MARKET SHOCK: A disruption of market equilibrium (that is, a market adjustment) caused by a change in a demand determinant (and a shift of the demand curve) or a change in a supply determinant (and a shift of the supply curve). A market shock can take one of four forms--an demand increase, demand decrease, supply increase, or supply decrease. An increase is seen as a rightward shift of either curve and results in an increase in equilibrium quantity. A decrease is a leftward shift of either curve and results in a decrease in equilibrium quantity. However, a change in demand results in price and quantity to change in the same direction, while a change in supply causes equilibrium price to move the opposite direction as quantity.
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GRAY SKITTERY
Your compete MICRO*scope for today
You are the type of person who probably suffers from a lengthy list of phobias and neuroses. Family and friends remove all caffeinated drinks and food products from their homes when you come to visit. Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a turbo-powered vacuum cleaner or a battery-powered, rechargeable vacuum cleaner. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity. You should consider shopping at stores or businesses beginning with the letter J, but do not buy any products with a serial number or product code containing the number 884874. Your preferred shopping venue is mail order catalogs. Your special symbol is the question mark (?).
Is this You?
As a Gray Skittery, you are ambivalent, indecisive, and uncertain. You are in a constant struggle between the forces of demand and supply, production and consumption, good and evil... and you're losing the battle. You have trouble making decisions and choosing from among the seemingly infinite number of options that you perpetually face. Your shopping experiences are inevitably confusing.
This isn't me! What am I?
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AGGREGATE MARKET An economic model relating the price level and real production that is used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, but adapted to the macroeconomy, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers). Also known by the names AS-AD model or income-price model, the aggregate market is THE cornerstone model of macroeconomic analysis.
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A Random Walk Through Some ECONOMIC STATISTICSA pedestrian must always be on guard during any economic excursion, especially when passing the Sylvester J. Peabody Federal Office Building here in Shady Valley. You never know when a window will burst open sending a barrage of glass slivers and economic statistics haphazardly into the street. This is usually followed by a pointy-headed economist who pokes his pointy head through the remaining shards of glass to adamantly declare that there's absolutely, positively NO RECESSION! But he'll recheck the numbers just in case there really is one. WATCH OUT! DUCK!
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"It is not the straining for great things that is most effective; it is the doing of the little things, the common duties, a little better and better." -- Elizabeth Stuart Phelps, Writer
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SBDC
Small Business Development Center
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