ECO 365 Week 1 participation Principles of Microeconomics, Ch. 4: The Market Forces of Supply and Demand

Read Ch. 4 of Principles of Microeconomics:

• 4-4 Supply and Demand Together, pp. 77-82 

Consider the following as you read:

1. Consider the combination of supply and demand and how together they make the market economies work.
2. Consider how supply and demand affects buyers and sellers behavior and how they interact with one another.
3. Consider how supply and demand determine prices in a market economy and how prices, in turn, allocate the economy’s scarce resources