1. SUPPLY AND DEMAND: HOW MARKETS WORK 2. MARKETS AND COMPETITION • A market is a group of buyers and sellers of a particular good or service. 3. MARKETS AND COMPETITION…

1.Copyright © 2004 South-Western The Market Forces of Supply and Demand 2. Copyright © 2004 South-Western • Supply and demand are the two words that economists use most…

1.CASE STUDY Two ways to reduce the quantity of smoking demanded: -- Public service announcements, mandatory health warnings on cigarette packages, and the prohibition of…

1. Dr.K.Baranidharan Present by… 2. Engineering Economics & Financial Accounting Ee&fa 218 August 2013 3. LAW OF SUPPLY 4. Law of Supply • Law of Supply- refers…

1. 2 SUPPLY AND DEMAND I: HOW MARKETS WORK 2. Copyright © 2004 South-Western 44The Market Forces of Supply and Demand 3. Copyright © 2004 South-Western • Supply and demand…

Slide 1Chapter 4 Part 2 Slide 2 Supply Quantity supplied – amount of a good that sellers are willing and able to sell Law of supply – the quantity supplied of a good…

Slide 1 Copyright © 2004 South-Western SUPPLY Quantity supplied is the amount of a good that sellers are willing and able to sell. Law of Supply The law of supply states…

Slide 1 LAW OF SUPPLY Slide 2 Focus Activity P Q 0 S What does this tell you about the Law of Supply? Slide 3 SUPPLY Law of Supply The law of supply states that, ceteris…

Slide 1 Supply and Demand Supply © 2002 by Nelson, a division of Thomson Canada Limited Slide 2 Mankiw et al.: Principles of Microeconomics, 2nd Canadian edition. Chapter…

Slide 1 Supply Unit 5 Slide 2 Law of Supply When Prices go up, Supply goes up When Prices go down, Supply goes down –Quantity supplied is a measure of the number of suppliers…