This Module introduces the demand side of a market, the supply side of a market, how demand and supply interact to form a market equilibrium, and how both demand and supply are determined by prices and other factors. Moreover, how market equilibrium results from demand and supply and how a market equilibrium changes when demand or supply changes are also covered.
Know the laws of demand and supply.
Graph a demand curve and a supply curve.
Know how various factors affect demand and supply; show these effects on graphs.