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Unit: Supply, demand, and market equilibrium

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Demand

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Demand and the law of demandGet 5 of 7 questions to level up!

Supply

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Supply and the law of supplyGet 3 of 4 questions to level up!

Quiz 1

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Market equilibrium and changes in equilibrium

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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!

Quiz 2

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Unit test

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About this unit

In this unit we explore markets, which is any interaction between buyers and sellers. We start by deriving the demand curve and describe the characteristics of demand. Next, we describe the characteristics of supply. Finally, we explore what happens when demand and supply interact, and what happens when market conditions change.