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L1 13 Demand and Supply Analysis: Introduction > k describe how government regulation and intervention affect demand and supply; > Flashcards

k describe how government regulation and intervention affect demand and supply; Flashcards

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L1 13 Demand and Supply Analysis: Introduction (17 decks)

Demand and Supply Analysis: Intro

A Distinguish Among Types of Markets

B Explain the Principles of Demand and Supply

C Describe causes of shifts in and movements along demand and supply curves

D Describe the Process of Aggregating Demand and Supply Curves

E Describe the concept of equilibrium (partial and general), and mechanisms by which markets achieve equilibrium

F Distinguish between stable and unstable equilibria, including price bubbles, and ID instances of such equilibria

G,H Calc and Interp indiv and agg D, and inverse D and S functions, and intep indiv and agg D and S curves+excess D or S associated w/ a non-equilibria P

I Describe types of auctions and calculate the winning prices of an auction

J Calc and Interp consumer surplus, producer surplus, and total surplus

K,L Desc how Gov reg. and intervention affect D and S

M Calc, Interp price, income, and cross-price elastcs of D and describe factors that affect each measure

g calculate and interpret individual and aggregate demand, and inverse demand and supply functions, and interpret individual and aggregate demand and supply curves;

h calculate and interpret the amount of excess demand or excess supply associated with a non-equilibrium price;

k describe how government regulation and intervention affect demand and supply;

l forecast the effect of the introduction and the removal of a market interference (e.g., a price floor or ceiling) on price and quantity;

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