MARKET ADJUSTMENT: The economic analysis of the changes in market equilibrium caused by changes in the demand determinants and supply determinants. Given the two curves that comprise the market--the demand curve and the supply curve; each of which can increase or decrease; market adjustment comes in eight varieties. Four involve a shift of EITHER the demand curve OR the supply curve. The other four involve a shift of BOTH the demand curve AND the supply curve. See also | market | equilibrium | market equilibrium | market disequilibrium | shortage | surplus | demand determinants | supply determinants | demand curve | supply curve | demand increase | demand decrease | supply increase | supply decrease |
