ECO 365 - Explain how markets work

Question # 00704987 Posted By: dr.tony Updated on: 07/06/2018 06:32 AM Due on: 07/06/2018
Subject Economics Topic Microeconomics Tutorials:
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Explain how markets work:

  • How society manages its scarce resources and benefits from economic interdependence.
  • Why the demand curve slopes downward and the supply curve slopes upward.
  • Where the point of equilibrium is and what does it determine?
  • The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.
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  1. Tutorial # 00704840 Posted By: dr.tony Posted on: 07/06/2018 06:33 AM
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