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What is Supply and Demand Study Guide about?

This document provides a study guide for economics unit 2. It outlines key terms related to supply and demand including the laws of supply and demand, demand and supply shifters, equilibrium price and quantity, elasticity, and marginal utility. It also defines shortages and surpluses and discusses how governments can influence markets. Market structures such as perfect competition, oligopoly, and public goods are defined. Examples of externalities and the free rider problem are also provided.

Author

Fidel DaSilva

Language

EN