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Understanding Economics
Understanding Economics: A Contemporary Perspective, 2/e
Mark Lovewell, Ryerson Polytechnic University
Demand and Supply

Chapter Focus

In this chapter, you will:

Consider the nature of demand, changes in quantity demanded, changes in demand, and the factors that affect demand

Examine the nature of supply, changes in quantity supplied, changes in supply, and the factors that affect supply

See how markets reach equilibrium — the point at which demand and supply meet




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