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Core Principles and Applications in Macroeconomics: Scarcity, Opportunity Cost, Markets, and Surplus

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Introduction to Supply and Demand

The Basics of Demand

Shifting Demand

The Basics of Supply

Shifting Supply

Supply and Demand Together: Equilibrium, Shortage, and Surplus

WIllingness to Pay and Consumer Surplus

Willingness to Sell and Producer Surplus

Price Ceilings, Price Floors, and Black Markets

Quantitative Analysis of Price Ceilings and Floors: Finding Areas

Introducing Taxes and Tax Incidence

Effects of Taxes on a Market