Clearing price清算价格 - : the price that the market sets. In this price range, there are no shortages or surplus’--no disequilibrium., Changing price变化价格 - : a sign that the market is experiencing a disequilibrium, Invisible hand - : coined by Adam Smith, a price mechanism that proposes the idea that the price will increase when there’s a surplus in demand, and the price will fall when there’s a surplus in supply, Adam Smith - : a Scottish economist known as “the father of economics,” used the term ‘invisible hand’ several times in his economic publishings, Externality外部性 - : a positive or negative impact on someone outside of the market participants (direct buyers and sellers), Marginal private benefits边际私人利益 - : the value or benefit that consumers derive from using each additional item or service, Marginal private costs边际私人成本 - : the additional cost of producing an additional unit, Consumer surplus消费者剩余 - : consumers who are willing to pay prices that are higher than the market price, Producer surplus生产者剩余 - : producers who are willing to produce at a price that is lower than the market price,

Wordwall: Humanities Eco Review Link 3 (with some Chinese to help)

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