Mankiw经济学原理课件英文Chap04.pptVIP

The Market Forces of Supply and Demand Chapter 4 The Market Forces of Supply and Demand Supply and demand are the two words that economists use most often. Supply and demand are the forces that make market economies work. Modern microeconomics is about supply, demand, and market equilibrium. Markets A market is a group of buyers and sellers of a particular good or service. The terms supply and demand refer to the behavior of people . . . as they interact with one another in markets. Markets Buyers determine demand. Market Type: A Competitive Market A competitive market is a market. . .