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Unit 2: Supply, demand, and market equilibrium
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Economists define a market as any interaction between a buyer and a seller. How do economists study markets, and how is a market influenced by changes to the supply of goods that are available, or to changes in the demand that buyers have for certain types of goods?
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- Demand and the law of demandGet 5 of 7 questions to level up!
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- Supply and the law of supplyGet 3 of 4 questions to level up!
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- Market equilibrium and disequilibriumGet 3 of 4 questions to level up!
- Changes in equilibriumGet 3 of 4 questions to level up!
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