Chapter 6 To begin with … 6.1Price ceiling 6.2Price floor 6.3Quantity control: quota Market intervention (I) 1.
Revision This is not necessarily an indication of what will be, or won’t be in the exam. This is an overview of main concepts & diagrams.
Market Efficiency vs. Efficiency Loss. Market Efficiency Basics Consumer surplus – The amount a consumer is willing to pay for a good minus what he actually.
CH. 7: DEMAND AND SUPPLY A. DEMAND 1. “The MARKETPLACE” 2. DEMAND 3. MARKET 4. VOLUNTARY EXCHANGE 5. LAW OF DEMAND (P QD )
