https://padlet.com/jclerch/a887tn0d1aqi See also ESI U3 L03 https://penguinecon.padlet.org/penguinecon/a9e5goe2sqjt en-us 2018-03-24 03:32:08 UTC 2023-03-29 17:50:01 UTC hello@padlet.com jclerch https://padlet.com/jclerch/a887tn0d1aqi/wish/264668051 2018-05-31 01:43:05 UTC https://padlet.com/jclerch/a887tn0d1aqi/wish/264668051 jclerch https://padlet.com/jclerch/a887tn0d1aqi/wish/264677330 2018-05-31 02:40:30 UTC https://padlet.com/jclerch/a887tn0d1aqi/wish/264677330 jclerch https://padlet.com/jclerch/a887tn0d1aqi/wish/264748500

Explain, using diagrams, how demand and supply interact to produce market equilibrium.

Analyze, using diagrams and with reference to excess demand or excess supply, how changes in the determinants of demand and/or supply result in a new market equilibrium.

Explain why scarcity necessitates choices that answer the “what to produce” question.

Explain, using diagrams, that price has a signaling function and an incentive function, which result in a reallocation of resources when prices change as a result of a change in demand or supply conditions.

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