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2.5.1 Market equilibrium

Unit 2.5.1 - Market equilibriumThis section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand market equilibrium. This includes the definition as well as drawing and interpreting demand and supply schedules and curves used to establish equilibrium price and sales in a market.Market equilibrium occurs when the demand for a good or service is equal to its supply. Hence, when a market is in...

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