Review the Supply and Demand Guide Supply and Demand Guide – Alternative Formats and the Supply and Demand PowerPoints Supply and Demand PowerPoints – Alternative Formats before you start.
Watch the videos above
Read the article in the textbook: ” Economics within a Marriage Economics within a Marriage – Alternative Formats ” on pages 56-57.
Read the article carefully and relate it to at least two important concepts we have covered during Week One.
How do these concepts relate to your own life?
Week 1 Concepts:
Scarcity
Economic Efficiency
Opportunity Costs
Productivity
Inflation
Business Cycle
Production Possibilities Frontier
Comparative Advantage
Net Exports = Imports – Exports
How to solve a supply and demand problem
The difference between demand and quantity demanded
The difference between supply and quantity supplied
