TOPIC 2: What Most Economic Questions Can be Reduced To:
Demand and Supply
Required Readings:
- Hall & Lieberman, Chapters 3-4
- The Wall Street Journal (or another national newspaper)
STUDY QUESTIONS FOR TOPIC 2:
- What factors affect the quantity demanded of some product?
- What factors affect the quantity supplied of some product?
- What is the difference between a shift in a demand/supply curve and a movement along a demand/supply curve?
- What is an equilibrium price?
