Discover how competitive equilibrium balances supply and demand in markets, maximizing economic efficiency for profit-driven producers and value-seeking consumers.

- (chemistry) the principle that (at chemical equilibrium) in a reversible reaction the ratio of the rate of the forward reaction to the rate of the reverse reaction is a constant for that reaction ...

Entropy isn't well understood in systems that aren't at equilibrium, but a new experiment shows a non-equilibrium phenomenon that actually depends upon entropy. Entropy, the measure of disorder in a ...

Meaning of microeconomics and macroeconomics, Positive and Normative Economics. What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of production ...

- (chemistry) the principle that (at chemical equilibrium) in a reversible reaction the ratio of the rate of the forward reaction to the rate of the reverse reaction is a constant for that reaction ...