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.

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

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