Know about Full Employment2) Know the concepts of Supply and Demand
1) Know about Full Employment2) Know the concepts of Supply and Demand
3) When would Excess demand happen in a market
4) Given an example be able to state what has happened to the supply and demand curves and the equilibrium price and quantity during a particular time period
5) Given a graph of the Demand and Supply curves in a market, be able to assess at a particular price and quantity how much the price must change for the market to be in equilibrium
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