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What is Demand and Supply in Economics about?

Topic 2 of ECOM4000 Economics covers the fundamental concepts of demand and supply, including market equilibrium and disequilibrium, and the effects of non-price determinants on demand and supply. It explains the laws of demand and supply, highlighting their inverse and direct relationships with price, respectively, and illustrates these concepts using demand and supply schedules and curves. The topic emphasizes the importance of market efficiency and the welfare provided to consumers and producers through

Author

XUEYUN PENG

Language

EN