Random Fact

It takes a U.S. worker an average of 25.4 minutes to get to work (www.census.gov).

Unit 2: Supply and Demand

Section 1: The Law of Demand

Section 2: The Demand Curve

Section 3: The Law of Supply

Section 4: The Supply Curve

Section 5: Equilibrium Price and Quantity

Section 6: Demand Determinants

Section 7: The Effect of a Change in Demand on Equilibrium Price and Quantity

Section 8: Supply Determinants

Section 9: The Effect of a Change in Supply on Equilibrium Price and Quantity

Section 10: The Effect of Changes in Both Demand and Supply on Equilibrium Price and Quantity

Section 11: Demand versus Quantity Demanded and Supply versus Quantity Supplied

Section 12: Consumer Surplus and Producer Surplus

Section 13: Price Changes in the Short Run and in the Long Run

Section 14: The Free Market System and Externalities

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