Disequilibrium
Equilibrium is a foundational concept in the study of both private and political markets. Professors convey the concept with two curves, supply, which slopes upward as a function of price, and demand, which slopes downward as a function of price. Along a two-dimensional graphic depicting price and quantity, the market clears where the curves intersect. At that equilibrium price, the quantity of a good supplied and demanded is equal. As with most economic concepts, equilibria
