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Demand,Supply and Market EquilibriumUnit2 main-qimg-9b69bbacfae150e455a13…
Demand,Supply and Market EquilibriumUnit2
Markets
Characteristics
Examples
Demand
Demand Schedule
Law of Demand
Demand curve
Other things equal
Changes in demand
Determinates of Demand
Number of buyers
Income
Normal goods
Inferior goods
Tastes
Prices of related gooods
Substitute goods
Complementary goods
Unrelated goods
Consumer Expectations
Future prices
Future income
Changes in Quantity demanded
Individual Buyers demand
Market Demand
Supply
Supply Schedule
Other things equal
Law of supply
Supply curve
Change in the supply
Determinates of supply
Taxes and subsides
Prices of other goods
Technology
Producer Expectations
Number of sellers
Resource price
Changes in quantity demanded
Individual demand
Market demand
Market Equilibrium
Equilibrium price
Equilibrium quantity
Surplus
Shortages
Government set prices
Price Ceiling
Black Markets
Rent Control
Rationing problem
Price Ceiling Graph
Price floor
Price floor Graph
Changes in demand and equilibrium
Changes in supply and equilibrium
Complex Case
Rationing function of prices
Efficient Allocation
Productive Efficiency
Allocative Efficiency
