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Principals of Macroeconomics: : Chapter 3 Demand and Supply - Coggle…
Principals of Macroeconomics: : Chapter 3 Demand and Supply
Substitution Effect
Demand and Supply
Demand Schedule
Demad Curve
Supply Schedule
Supply Curve
Quantity Demand
Income Effect
Law of Demand
Model used for Chapter 3: Perfectly Competitive Market
Ceteris Paribus
The requirement that when analyzing the relationship between two variables
Demograpics
Competitive market Equilibrium
A market equilibrium with many buyers and sellers
Inferior good
Law of Supply
Quantity supplied
Market Demand
Market Equilibrium
A situation in which quantity demanded equals quantity supplied