Economics (McConnell) AP Edition, 19th EditionChapter 3:
Demand, Supply, and Market Equilibrium (+ Appendix)The content of this chapter may be included on the AP* Macroeconomics and Microeconomics exam. After reading this chapter, you should be able to: - Describe demand and explain how it can change.
- Describe supply and explain how it can change.
- Relate how supply and demand interact to determine market equilibrium.
- Explain how changes in supply and demand affect equilibrium prices and quantities.
- Identify what government-set prices are and how they can cause product surpluses and shortages.
- (Appendix) Illustrate how supply and demand analysis can provide insights on actual-economy situations.
AP Chapter 03 Introduction
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