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Mature Market
A market is mature when it has reached a state of equilibrium. A market is considered to be in a state of equilibrium when there is an absence of significant growth or a lack of innovation. When supply matches demand the price determined by market forces is called the equilibrium price. Equilibrium prices prevail in the market for a substantial period, which may be from one day to one week or several months. See also * Mature technology A mature technology is a technology that has been in use for long enough that most of its initial faults and inherent problems have been removed or reduced by further development. In some contexts, it may also refer to technology that has not se ... References {{econ-stub Market (economics) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Equilibrium
In economics, economic equilibrium is a situation in which the economic forces of supply and demand are balanced, meaning that economic variables will no longer change. Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes, and quantity is called the "competitive quantity" or market clearing quantity. Understanding economic equilibrium An economic equilibrium is a situation when the economic agent cannot change the situation by adopting any strategy. The concept has been borrowed from the physical sciences. Take a system where physical forces are balanced for instance.This economically interpreted means no further change ensues. Properties of equilibrium Three basic prope ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market (economics)
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in Exchange (economics), exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the value of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emergence, emerges more or less spontaneous order, spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant Gift economy, gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
In economics, economic growth is an increase in the quantity and quality of the economic goods and Service (economics), services that a society Production (economics), produces. It can be measured as the increase in the inflation-adjusted Output (economics), output of an economy in a given year or over a period of time. The rate of growth is typically calculated as List of countries by real GDP growth rate, real gross domestic product (GDP) growth rate, List of countries by real GDP per capita growth, real GDP per capita growth rate or List of countries by GNI per capita growth, GNI per capita growth. The "rate" of economic growth refers to the Exponential growth, geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend. Growth is usually calculated in "real" value, which is real v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Innovation
Innovation is the practical implementation of ideas that result in the introduction of new goods or service (economics), services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity, realizing or redistributing value (economics), value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies. Innovation often takes place through the development of more-effective product (business), products, processes, Service (economics), services, technologies, art works or business models that innovators make available to Market (economics), markets, governments and society. Innovation is related to, but not the same as, ''invention'': innovation is more apt to involve the practical implementation of an invention (i.e. new / improved ability) to make a meaningful impact in a market or society, and not all innovations requir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply And Demand
In microeconomics, supply and demand is an economic model of price determination in a Market (economics), market. It postulates that, Ceteris_paribus#Applications, holding all else equal, the unit price for a particular Good (economics), good or other traded item in a perfect competition, perfectly competitive market, will vary until it settles at the market clearing, market-clearing price, where the quantity demanded equals the quantity supplied such that an economic equilibrium is achieved for price and quantity transacted. The concept of supply and demand forms the theoretical basis of modern economics. In situations where a firm has market power, its decision on how much output to bring to market influences the market price, in violation of perfect competition. There, a more complicated model should be used; for example, an oligopoly or product differentiation, differentiated-product model. Likewise, where a buyer has market power, models such as monopsony will be more a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equilibrium Price
In economics, economic equilibrium is a situation in which the economic forces of supply and demand are balanced, meaning that economic variables will no longer change. Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes, and quantity is called the "competitive quantity" or market clearing quantity. Understanding economic equilibrium An economic equilibrium is a situation when the economic agent cannot change the situation by adopting any strategy. The concept has been borrowed from the physical sciences. Take a system where physical forces are balanced for instance.This economically interpreted means no further change ensues. Properties of equilibrium Three basic properti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mature Technology
A mature technology is a technology that has been in use for long enough that most of its initial faults and inherent problems have been removed or reduced by further development. In some contexts, it may also refer to technology that has not seen widespread use, but whose scientific background is well understood. Its performance characteristics are also expected to be well understood with well-established design specifications. One of the key indicators of a mature technology is the ease of use for both non-experts and professionals. Another indicator is a reduction in the rate of new breakthrough advances related to it—whereas inventions related to a (popular) immature technology are usually rapid and diverse, and may change the whole use paradigm—advances to a mature technology are usually incremental improvements only. Examples The QWERTY keyboard design is an example of mature technology because its performance characteristics such as typing speeds and error rates ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
