Microeconomics,, 16th Canadian Edition

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Chapter Outline


3.1 Demand
3.2 Supply
3.3 The Determination of Price

AFTER STUDYING THIS CHAPTER, YOU WILL BE ABLE TO





 Learning Objectives (LO)


1. list the factors that determine the quantity demanded of a good.
2. distinguish between a shift of the demand curve and a movement
along the demand curve.
3. list the factors that determine the quantity supplied of a good.
4. distinguish between a shift of the supply curve and a movement
along the supply curve.
5. explain the forces that drive market price to equilibrium, and how
equilibrium price and quantity are affected by changes in demand
and supply.
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