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Demand, Supply, and Market Equilibrium
The Basic Decision-Making Units ,[object Object],[object Object],[object Object]
The Circular Flow of Economic Activity ,[object Object]
Input Markets and Output Markets ,[object Object],[object Object],[object Object]
Input Markets ,[object Object],[object Object],[object Object],[object Object]
Determinants of Household Demand ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A household’s decision about the quantity of a particular output to demand depends on:
Quantity Demanded ,[object Object]
Demand in Output Markets ,[object Object],[object Object]
The Demand Curve ,[object Object]
The Law of Demand ,[object Object],[object Object]
Other Properties of Demand Curves ,[object Object],[object Object]
Income and Wealth ,[object Object],[object Object]
Related Goods and Services ,[object Object],[object Object]
Related Goods and Services ,[object Object],[object Object]
Shift of Demand Versus Movement Along a Demand Curve ,[object Object],[object Object],[object Object]
A Change in Demand Versus a Change in Quantity Demanded ,[object Object]
A Change in Demand Versus a Change in Quantity Demanded To summarize : Change in price of a good or service leads to Change in  quantity demanded ( Movement along the curve ). Change in income, preferences, or prices of other goods or services leads to Change in demand ( Shift of curve ).
The Impact of a Change in Income ,[object Object],[object Object]
The Impact of a Change in the Price of Related Goods ,[object Object],[object Object],[object Object],[object Object]
From Household to Market Demand ,[object Object],[object Object]
From Household Demand to Market Demand ,[object Object]
Supply in Output Markets ,[object Object],[object Object]
The Supply Curve and  the Supply Schedule ,[object Object]
The Law of Supply ,[object Object],[object Object]
Determinants of Supply ,[object Object],[object Object],[object Object],[object Object],[object Object]
A Change in Supply Versus  a Change in Quantity Supplied ,[object Object],[object Object],[object Object]
A Change in Supply Versus a Change in Quantity Supplied ,[object Object]
A Change in Supply Versus a Change in Quantity Supplied To summarize : Change in price of a good or service leads to Change in  quantity supplied ( Movement along the curve ). Change in costs, input prices, technology, or prices of related goods and services leads to Change in supply ( Shift of curve ).
From Individual Supply to Market Supply ,[object Object],[object Object]
Market Supply ,[object Object]
Market Equilibrium ,[object Object],[object Object],[object Object]
Market Equilibrium ,[object Object],[object Object]
Market Disequilibria ,[object Object],[object Object]
Market Disequilibria ,[object Object],[object Object]
Increases in Demand and Supply ,[object Object],[object Object]
Decreases in Demand and Supply ,[object Object],[object Object]
Relative Magnitudes of Change ,[object Object]
Relative Magnitudes of Change ,[object Object]

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Demand, Supply, and Market Equilibrium

  • 1. Demand, Supply, and Market Equilibrium
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  • 17. A Change in Demand Versus a Change in Quantity Demanded To summarize : Change in price of a good or service leads to Change in quantity demanded ( Movement along the curve ). Change in income, preferences, or prices of other goods or services leads to Change in demand ( Shift of curve ).
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  • 28. A Change in Supply Versus a Change in Quantity Supplied To summarize : Change in price of a good or service leads to Change in quantity supplied ( Movement along the curve ). Change in costs, input prices, technology, or prices of related goods and services leads to Change in supply ( Shift of curve ).
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