Title

(5) More Practice with the Market Model

Topic Category

Market Operations

Publication Date

2011

Keywords

Equilibrium, Market Adjustment, Market Operations

Abstract

This offers the opportunity to practice using the market model. The viewer chooses a demand/supply factor to change, and the the adjustment process is illustrated and explained. Here the emphasis is on the end result as opposed to the details of the adjustment process, and the demand/supply function presentation is emphasized.

Run Time

Varies, based on viewer selection

Primary Discipline

Microeconomics

Skills Delivered

Ability to use market model to show the effects of a change in some driver of demand or supply. Ability to explain demand and supply as multiple variable functions that are graphed as demand/supply curves.

Rigor Level

2000

Prerequisites

Previous Demand, Supply, & Market Videos



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