Podcast
Questions and Answers
What is the economic model of price determination in a market?
What is the economic model of price determination in a market?
Supply and demand
What does the supply and demand model postulate in a competitive market?
What does the supply and demand model postulate in a competitive market?
The unit price for a particular good will vary until it settles at a point where the quantity demanded equals the quantity supplied
What does the concept of supply and demand form the theoretical basis of?
What does the concept of supply and demand form the theoretical basis of?
Modern economics
What does the aggregate demand-aggregate supply model depict in macroeconomics?
What does the aggregate demand-aggregate supply model depict in macroeconomics?
What is a supply schedule and how is it depicted graphically?
What is a supply schedule and how is it depicted graphically?
What is the focus of microeconomics?
What is the focus of microeconomics?
What does microeconomics analyze in relation to market mechanisms?
What does microeconomics analyze in relation to market mechanisms?
What is the goal of microeconomics?
What is the goal of microeconomics?
What does macroeconomics focus on?
What does macroeconomics focus on?
What does microeconomics deal with in relation to individuals and firms?
What does microeconomics deal with in relation to individuals and firms?
