| # | Concept | Culture | Statement | Freq. |
|---|---|---|---|---|
| 1 | elasticity of demand | economics students | A measure of how consumers react to a change in price, indicating whether demand is sensitive to price changes. | 1 |
| 2 | equilibrium | economic theory | A key principle in economic theory to describe the balance between supply and demand in a market. | 1 |
| 3 | market equilibrium | economics students | The point at which the quantity of a product demanded by consumers is equal to the quantity supplied by producers, resulting in an economic balance. | 1 |
| 4 | supply and demand | economic theory | Key principle influencing market prices and allocation of resources | 1 |