1. Theory of Supply and Demand 2. Overview Market (who, what, how) Supply and demand is an economic model Designed to explain how prices are determined in certain types of…

1. Theory of Supply and Demand 2. Overview Market (who, what, how) Supply and demand is an economic model Designed to explain how prices are determined in certain types of…

1. Theory of Supply and Demand 2. Overview Market (who, what, how) Supply and demand is an economic model Designed to explain how prices are determined in certain types of…

1. Theory of Supply and Demand 2. Overview Market (who, what, how) Supply and demand is an economic model Designed to explain how prices are determined in certain types of…

Chapter 1 notes Definition of Economics The first thing that we should discuss is the definition of "economics." Economists generally define economics as the study…