Economics
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Boundless Economics
Open Economy Macroeconomics
Equilibrium
Economics Textbooks Boundless Economics Open Economy Macroeconomics Equilibrium
Economics Textbooks Boundless Economics Open Economy Macroeconomics
Economics Textbooks Boundless Economics
Economics Textbooks
Economics
Concept Version 6
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Open Economy Equilibrium

Equilibrium

Equilibrium

The graph shows that the point of equilibrium is where the supply and demand are equal. In an open economy, equilibrium is achieved when the amount demanded by consumers is equal to the amount of a goods or service provided by producers.

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    Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:

    "Simple supply and demand."
    http://commons.wikimedia.org/wiki/File:Simple_supply_and_demand.svg Wikimedia CC BY-SA.

Related Terms

  • output
  • equilibrium
  • trade
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