Links:

https://www.youtube.com/watch?v=ShzPtU7IOXs

Chapter 4: Demand Supply and Market Equilibrium. Seventh edition exploring economics- Robert L. Sexton

1. Define the law of demand and explain the difference between change in quantity demanded and change in demand.

2. in which direction does the demand curve shift if there is an increase in demand or a decrease in demand?

3. list the factors that cause a change in demand and explain each of them.

4. What is the difference between a change in quantity supply and a change in supply?

5. List and explain the factors that cause a change in supply.

6. list and explain all of the conditions that are achieved at a point of equilibrium.

7. Explain with the use of examples: consumer surplus, producer surplus, price ceiling and price floor.