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  • Economics Chapter 3 Study Guide

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    cyndalea
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    This economics study guide covers key concepts in supply and demand including individual vs market demand and supply curves, elasticity, marginal costs and returns, factors that shift curves, price controls, surpluses and shortages, and complements. It also provides an overview of how a price-based market system compares to a barter system and discusses the role of government price supports and non-price factors.

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    This economics study guide covers key concepts in supply and demand including individual vs market demand and supply curves, elasticity, marginal costs and returns, factors that shift curves, price controls, surpluses and shortages, and complements. It also provides an overview of how a price-based market system compares to a barter system and discusses the role of government price supports and non-price factors.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    676 просмотров1 страница

    Economics Chapter 3 Study Guide

    Загружено:

    cyndalea
    This economics study guide covers key concepts in supply and demand including individual vs market demand and supply curves, elasticity, marginal costs and returns, factors that shift curves, price controls, surpluses and shortages, and complements. It also provides an overview of how a price-based market system compares to a barter system and discusses the role of government price supports and non-price factors.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 1

    Economics Chapter 3 Study Guide: Supply and Demand

    Individual Demand Curves vs. Market Demand Curves


    Complementary goods
    Individual Supply Curves vs. Market Supply Curves
    Supply Inelasticity
    Supply Elasticity
    Demand Inelasticity
    Demand Elasticity
    Marginal Cost
    Marginal Revenue
    When to stop producing
    Diminishing Marginal Returns
    Shift Right
    Shift Left
    Cost of Production and Supply
    Benefit of price in a market-based economy
    Law of Demand
    Law of Supply
    Advertising and Demand
    Marginal returns
    Price equilibrium
    Government price supports
    Price ceiling
    Price floor
    Surplus
    Shortage
    Substitutes
    Factors affecting demand
    Factors affecting supply
    Horizontal axis
    Vertical axis
    Profit motive
    Essay:
    Barter system vs. price-based free market system
    Government price supports
    Non-price determinants for supply or demand

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