Introduction to Business Economics
August 31, 2020Elasticity of Demand
August 31, 2020
This presentation covers the following concepts:
- Concept of Demand
- Determinants of Demand/Factors affecting demand
- Individual Demand And Market Demand
- Movements along the demand curve (Extension or Contraction of demand) and shifts in demand curve (Increase or Decrease in Demand)
- Concept of Supply
- Factors influencing supply/Determinants of supply
- Individual Supply And Market Supply
- Movement along the supply curve (Extension or Contraction of supply) and shifts in supply curve (Increase or Decrease in Supply)
- Market Equilibrium
- Changes in Market Equilibrium
