Welcome to CW Economics!

The study of economics is challenging and rewarding. Use this site to check up on topics covered, homework assigned, and assignments given.

Upcoming Assignments and Tests

  • Grade 12 Book Club Monday, January 16. Journals due Tuesday, January 17
  • Grade 12 essays due Tuesday, January 24 at 10:24am (2 COPIES)
  • Grade 11 Final Summative Game due Tuesday, January 24 at beginning of class.
  • Monetary Policy - Interest Rates due Tuesday, January 10
  • Banking Assignment due Friday, December 23

Tuesday, October 18, 2016

What is equilibrium?

It is the point where the demand curve and the supply curve intersect. A better description of equilibrium price is the market-clearing price. Everything brought to market at that price is sold.

Excess supply/surplus occurs when the price is above the equilibrium price.

Excess demand/shortage occurs when the price is below the equilibrium price.

Alfred Marshall's quote appears on page 79.
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