1.   2.   3. Markets and Prices Amarketis any arrangement that enables buyers and sellers to get information and do business with each other. Acompetitive marketis a market…

1. CHAPTER 1 2.   3. What makes the prices of oil and gasoline double in just one year? Will the price of gasoline keep on rising?Are the oil companies taking advantage…

Slide 1Demand and Supply CHAPTER 3 Slide 2 After studying this chapter you will be able to Describe a competitive market and think about a price as an opportunity cost Explain…

Slide 1© 2010 Pearson Addison-Wesley Slide 2 Slide 3 Markets and Prices A market is any arrangement that enables buyers and sellers to get information and do business with…

Slide 11 The Utility-Maximizing Model Module 11 Slide 2 Use the utility-maximizing model to explain how consumers choose goods and services. 2 ObjectivesObjectives Slide…

Slide 1 Slide 2 3 DEMAND AND SUPPLY Slide 3 © 2012 Pearson Education Slide 4 What makes the prices of oil and gasoline double in just one year? Will the price of gasoline…

ECON 1000: Introduction to Microeconomics Andrew Dickens York University Parkins & Bade, Chapter 3 3 Demand and Supply Economics is about the choices people make to cope…

Slide 1 Slide 2 3 CHAPTER Demand and Supply Slide 3 © Pearson Education 2012 After studying this chapter you will be able to:  Describe a competitive market and think…

Slide 1 Demand and Supply CHAPTER 3 Slide 2 After studying this chapter you will be able to Describe a competitive market and think about a price as an opportunity cost Explain…

Slide 1 © 2010 Pearson Addison-Wesley Slide 2 Demand and Supply Supply and demand are the two words that economists use most often. Supply and demand are the forces that…