law of demand

law of supply

equilibrium

surplus

shortage

non- price determinants

change in demand v change in quantity demanded

change in supply v change in quantity supplied

equilibrium price and equilibrium quantity

demand curve

supply curve

shifts (non price factors) in the supply and demand curve

substitutes and complements

normal and inferior goods

tastes and preferences

future price expectations

market size

taxes and subsidies (negative taxes)

price floors and price ceilings

 

 

 In a free market economy can anyone be forced to buy a good or service?

 Why is a change in quantity supplied and demanded different from change in supply and demand?

Based off of what other reasons besides price do consumers and producers make economic decisions?

 

You must be able to draw the impact shifts of supply and/or demand have on EP  and EQ.   

 

Helpful Websites

https://www.youtube.com/watch?v=0FyG_URe3sA Demand for Super Bowl Tickets

http://www.youtube.com/watch?v=GjMMSTF1-4U- Supply and Demand Song

https://www.youtube.com/watch?v=xYo8oIWXua4&t=1s - Reffonomics.com Determinants of Demand

https://www.youtube.com/watch?v=V0tIOqU7m-c- Jacob Clifford- Shifting Supply and Demand Curves