Supply and Demand
Introduction to Markets

  1. Read Chapter 3: Do questions 1,2, 4, 5, 7, and 8 on page 56
  2. Read Chapter 4: Do question 8 on page 70
  3. Read Chapter 20; Do questions 2,4,5,6,10, and 12 on page 392.
  4. Read Chapter 21; Do questions 2,4, and 5 on page 406-407

 

 

 
 
  • Markets
  • Product Markets
  • Factor Markets
  • Demand
  • Income Effect
  • Substitution Effect
  • Law of Diminishing Marginal Utility
  • Determinants of Demand
  • Substitutes
  • Compliments
  • Change in Demand/Change in Quantity Demanded
  • Supply
  • Determinants of Supply
  • Change in Supply/Change in Quantity Supplied
  • Surplus
  • Shortage
  • Market Equilibrium
  • Price Elasticity
  • Supply Elasticity
  • Income Elasticity
  • Cross Elasticity
  • Price Floors and Ceilings
  • Market System
    • Four Fundamental Questions
    • "The Invisible Hand"
  • Marginal Utility and Consumer Behavior
  1. Morton Worksheets
    • Activities 12-29
  2. CD-ROM: Microeconomics Alive!

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