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Ch. 1 & 3: Introduction to Economics and the Market System: Supply and Demand

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Introduction to Economics

Three Key Economic Ideas

Positive and Normative Statements

Graphing Review

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

Supply and Demand Together: One-sided Shifts

Supply and Demand Together: Both Shift