Principles of Microeconomics - Chapter 4: Supply and Demand - Part 1
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Summary
Full Transcript
What is a market? 3:20
Characteristics of perfectly competitive markets 4:24
Demand 13:39
The law of demand 14:30
The income and substitution effects 16:42
A demand schedule 19:48
The demand curve 21:50
The market demand curve 24:31
The determinants of demand - what causes a demand curve to shift? 34:42
- Income 35:17
- Prices of related goods 42:27
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