The market mechanism Outline Outline 1. Introduction 1. Introduction 2. Markets versus planning 2. Markets versus planning 3. Demand and supply 3. Demand.
Markets, Demand and Supply. Demand The relationship between demand and price the income effect the substitution effect The demand curve assumptions.
Chapter 2 Demand p36-41 Chapter 2 Demand p36-41 DEMAND The relationship between demand and priceThe relationship between demand and price –the law of.
Chapter 2 Elasticity P50-63 Chapter 2 Elasticity P50-63.
