World Scholars' Cup Latest Update Graded A+

World Scholars' Cup Latest Update Graded A+ black market a secret market in which goods are sold illegally supply a stock of resource from which a person or place can be provided with the necessary amount of that resource demand Consumer willingness and ability to buy products deadweight loss loss of economic efficiency that can occur when equilibrium is not achieved or not achievable Equilibrium A state of balance between supply and demand regulation A rule or directive made and maintained by an authority. perfect competition the situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are abswnt and the market price of a commodity is beyond the control of individual buyers and sellers. imperfect competition the situation prevailing in a market in which elements of monopoly allow individual producers or consumers to exercise some control over market prices monopoly the exclusive possession or control of the supply or trade in a commodity or service. commodity an article of trade or commerce, especially a product as distinguished from a service. tax a mandatory financial charge imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. tariff a tax or duty to be paid on a particular class of imports or exports embargo an official ban on trade or other commercial activity with a particular country sanction a threatend penalty for disobeying a law or rule arbitrage The simultaneous purchase and sale of an asset in order to profit from a difference in the price souk a market in an Arab community exchange the act of giving one thing and receiving another swap meet a flea market boot sale a form of market in which private individuals cone together to sell household and garden goods. stock market a system for buying and selling stocks in corporations security a negotiable financial instrument that holds some monetary value capital Financial assets or the financial value