ECON 101 LUP Supply & Demand Principle the Heart of the Market Economy Essay

Question Description

Link (Links to an external site.)COMPLETE CHAPTER 3 READING TO UNDERSTAND SUPPLY AND DEMAND ANALYSIS. BE ABLE TO UNDERSTAND BOTH THE DETERMINANTS OF SUPPLY AS WELL AS THE DETERMINANTS OF DEMAND. PAY PARTICULAR ATTENTION TO THE SIGNIFICANCE OF THE POINT OF EQUILIBRIUM AND WHAT IT REPRESENTS ESPECIALLY IN A MARKET STYLE ECONOMY.

VIEW THE YOUTUBE CRASH COURSE ON SUPPLY AND DEMAND’

WHEN YOU HAVE COMPLETED BOTH THE READING AND THE VIDEO, COMMENT ON THE FOLLOWING STATEMENT:

“THE SUPPLY AND DEMAND PRINCIPLE IS THE HEART OF THE MARKET ECONOMY BUT REALLY IS USELESS IN A COMMAND ECONOMY” EXPLAIN

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