MARKET
WHY DO MARKETS EXIST ?
TWO TYPES OF MARKETS
PPT Slide
What Do Firms Do ?
Firms Buy Factors of Production
TYPES OF FIRMS
CURRENCY MARKETS AND EXCHANGE RATES
SUPPLY AND DEMAND
MARKET DEMAND
MARKET DEMANDHow much a Consumer Demands of a Product depends on:
THE DEMAND CURVE
THE LAW OF DEMAND
TWO DEMAND EFFECTS
Change in Quantity Demanded
What Causes the Demand Curve to Shift(Change in Demand)
Demand Shift Causes
Other Factors Affecting Demand (Shift)
Individual Demand Curve
The Principle of Opportunity Cost
Substitution Effect
Income Effect
The Market Demand Curve
Market Demand Assumptions
UTILITY
Marginal Utility
The Law of Diminishing Marginal Utility
The Marginal Principle
The Utility Maximizing Rule
CONSUMER SURPLUS
Demand Curve and Consumer Surplus
Email: osman.zaim@orst.edu
Home Page: http://osu.orst.edu/instruct/econ201/osman/
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