ECO 561 Marketing Equilibrium

ESSAY SAMPLE

Equilibrium by definition states that by the equality of effect, there must be a state of balance due to the equal action of opposing forces ("Dictionary.com, 2013"). Supply and demand ultimately reflect the nature of marketing equilibrium's opposed pulling effect by relying on each other for cause and effect. Furthermore, I will discuss the exact forces of equilibrium in regards to the game console of Nintendo's Wii.

According to McConnell, Brue, and Flynn(2009), the demand curve on a graph will identify the various points on a graph where it shows the quantity of Wiis that will be demanded by consumers at each specific price, granted other things equal (Chapter 3).

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Market Equilibration Process Paper

• Relate the concepts of the market equilibrating process in the Weeks One and Two readings and learning activities to a prior real-world experience occurring in a free market. The experience does not necessarily have to be work related.

• Explain the market equilibrating process in relation to your experience. Include academic research to support your ideas.

• Consider the following components in your explanation:

  • Law of demand and the determinants of demand

  • Law of supply and the determinants of supply

  • Efficient markets theory

  • Surplus and shortage