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Micro 4.1.3 Price determination in a competitive market

This class was created by Brainscape user Ose Agbon. Visit their profile to learn more about the creator.

By: Ose Agbon
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Decks in this class (6)

4.1.3.1 The determinants of the demand for goods and services
What is demand,
The law of demand,
What does the demand curve show
9  cards
4.1.3.6 The interrelationship between markets
What is competitive demand,
What is composite demand,
What is derived demand
13  cards
4.1.3.5 The determination of equilibrium market prices
Market equilibrium,
Define equilibrium price,
Define excess demand
8  cards
4.1.3.4 Price elasticity of supply
Price elasticity of supply,
Pes equation,
What is the difference between pe...
25  cards
4.1.3.3 The determinants of the supply of goods and services
Supply,
Producers,
The law of supply
15  cards
4.1.3.2 Price, income and cross elasticities of demand
Elasticity,
Price elasticity of demand,
Ped equation
35  cards

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Micro 4.1.3 Price determination in a competitive market

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