Beruflich Dokumente
Kultur Dokumente
Principles of
Macroeconomics, 9e
By
Karl E. Case,
Ray C. Fair &
Sharon M. Oster
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CHAPTER 3 Demand, Supply, and Market Equilibrium
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PART I INTRODUCTION TO ECONOMICS
Prepared by:
Fernando & Yvonn
Quijano
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PART I INTRODUCTION TO ECONOMICS
Decision-Making Units
Input Markets and Output Markets: The
Circular Flow
Demand in Product/Output Markets
Changes in Quantity Demanded versus Changes
in Demand
Price and Quantity Demanded: The Law of
Demand
Other Determinants of Household Demand
Shift of Demand versus Movement Along the
Demand Curve
From Household Demand to Market Demand
Supply in Product/Output Markets
Price and Quantity Supplied: The Law of Supply
Other Determinants of Supply
Shift of Supply versus Movement Along the
Supply Curve
From Individual Supply to Market Supply
Market Equilibrium
Excess Demand
Excess Supply
Changes in Equilibrium
Demand and Supply in Product Markets: A
Review
Looking Ahead: Markets and the
Allocation of Resources
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Firms and Households: The Basic Decision-Making Units
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Input Markets and Output Markets: The Circular Flow
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Input Markets and Output Markets: The Circular Flow
FIGURE 3.1 The Circular Flow of
Economic Activity
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Input Markets and Output Markets: The Circular Flow
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Demand in Product/Output Markets
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Demand in Product/Output Markets
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
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Demand in Product/Output Markets
Expectations
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Demand in Product/Output Markets
Shift of Demand versus Movement Along a Demand Curve
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Demand in Product/Output Markets
Shift of Demand versus Movement Along a Demand Curve
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Demand in Product/Output Markets
Shift of Demand versus Movement Along a Demand Curve
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Demand in Product/Output Markets
Shift of Demand versus Movement Along a Demand Curve
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Demand in Product/Output Markets
From Household Demand To Market Demand
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Supply in Product/Output Markets
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Supply in Product/Output Markets
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Supply in Product/Output Markets
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Supply in Product/Output Markets
Quantity Supplied
Price (Per Bushel) (Bushels Per Year)
$1.50 0
1.75 10,000
2.25 20,000
3.00 30,000
4.00 45,000
5.00 45,000
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Supply in Product/Output Markets
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Supply in Product/Output Markets
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Supply in Product/Output Markets
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Supply in Product/Output Markets
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Supply in Product/Output Markets
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Supply in Product/Output Markets
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Supply in Product/Output Markets
From Individual Supply to Market Supply
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Market Equilibrium
Excess Demand
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Market Equilibrium
Excess Demand
FIGURE 3.9 Excess
Demand, or Shortage
Excess Supply
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Market Equilibrium
Excess Supply
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Market Equilibrium
Changes In Equilibrium
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Market Equilibrium
Changes In Equilibrium
Product X
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Market Equilibrium
Changes In Equilibrium
CHAPTER 3 Demand, Supply, and Market Equilibrium
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Demand and Supply in Product Markets: A Review
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Demand and Supply in Product Markets: A Review
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Looking Ahead: Markets and the Allocation of Resources
produced.
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REVIEW TERMS AND CONCEPTS
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