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- curves
- Demand
- elasticity
- Equilibrium
- Factors affecting demand
- Factors affecting supply
- Law of demand
- Law of supply
- market structure
- market structures
- monopolistic competition
- monopoly
- movements along the demand curve
- movements along the supply curve
- Oligopoly
- price
- price ceiling
- Price elasticity of demand
- price floor
- prices
- pure competition
- quantity
- Scenario
- Shifts of demand curve
- Shifts of supply curve
- Shifts of the supply curve
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Author Archives: Dallas
Monopolistic competition!
What is it all about? Combining aspects of monopoly and a competitive market you have monopolistic competition. Think about the food court in your shopping centre. There are a bunch of food places but only one Sushi place. In this … Continue reading
Market equilibrium!
What is this equilibrium stuff I was going on about today? Well check out this video for a refresher! You should get comfortable with the idea of market equilibrium, demand and supply, becuase we will be using a lot over … Continue reading
Demand and supply curves: movements and equilibrium!
So many different curves! Im sure some students may find it helpful to be able to graphically represent these curves. If you are you can download the attached spreadsheet with all the different schedules and curves I have made up … Continue reading
Posted in Alternatives to market solutions, Demand, Market Prices, Supply
Tagged curves, Demand, Equilibrium, Supply
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Who do price floors protect – Scenario: Australian Wool Corporation.
Read the following scenario and answer this question: What kind of price intervention is this, and what are the effects? Who does a price floor protect? The price floor protects sellers from a price that too low and to keep … Continue reading
Changes in supply and demand on market equilibrium.
Watch this video and answer the following the questions: what happens to price and quantity of apples when there is a shortage? What do consumers do to push that price? What happens when the price is above $3? What is … Continue reading
Movement to equilibrium
When the supply of a product is equal to the demand of a product at a certain price. This means that there is no excess demand or supply. That is, producers do not make more or less product than what … Continue reading
Market determined prices – Equilibrium and alternatives.
Question: Yesterday in class Annabel asked “sir what do you mean by this “Alternatively the government might decide that the market determined price for a commodity to be to low” ?” So what does this mean? Firstly price ceilings: You … Continue reading
Market equilibrium
Here is the powerpoint from class. You can review this in your own time but we will also be going over this in class tomorrow (so you’d better know it!). Download the powerpoint here: Market equilibrium
Law of Demand and how to construct a demand curve
Have a look at this powerpoint and read through it. There is a demand schedule (you should recognise this from class) and try to construct you own demand curve. DEMAND
Prelim Topic 3: Markets 