| After reading this chapter, you should know | |
| LO3-1 | The nature and determinants of market demand. |
| LO3-2 | The nature and determinants of market supply. |
| LO3-3 | How market prices and quantities are established. |
| LO3-4 | What causes market prices to change. |
| LO3-5 | How government price controls affect market outcomes. |