Title
(1) The Basic Market Model
Topic Category
Market Operations
Publication Date
2011
Keywords
Supply Curve, Demand Curve, Equilibrium, Shortage, Surplus, Markets
Abstract
This reviews the drivers and sign expectations for demand and supply functions. It explains how these relate to demand and supply curves. These are combined into a graph that illustrates equilibrium, surpluses and shortages.
Recommended Citation
Crane, Steven E., "(1) The Basic Market Model" (2011). Principles of Microeconomics. Paper 9.
http://epublications.marquette.edu/microecon_learning/9
Run Time
7:45
Primary Discipline
Microeconomics
Skills Delivered
Very basic familiarity with the standard market model that is a core component of introductory micro economic analysis.
Rigor Level
2000
Prerequisites
Previous Demand & Supply Videos
COinS