demand

Demonstrate your understanding of price elasticity of demand (PED) and its value in calculating a desired margin, and the factors that make the demand for a good more elastic.

by

Demand. Describe the law of demand, consumer surplus, and aggregate demand. Use marginal analysis to make pricing and output decisions. Demonstrate your understanding of  price elasticity of demand (PED) and its value in calculating a desired margin, and the factors that make the demand for a good more elastic. Use current margin and desired margin … Read more

Economy : Define the law of supply. Define the law of demand

by

Economy What do we call the market clearing price? How do buyers and sellers determine the market clearing price? Draw a graph showing the market clearing price. Draw a circular flow diagram that includes the product market, resource (factor) market, households, and firms. Explain how goods and services circulate between the four parts Explain the … Read more