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Macroeconomics Foundations: Supply & Demand, Market Efficiency, and International Trade

Study Guide - Learn with Videos

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

Economic Surplus and Efficiency

Price Ceilings, Price Floors, and Black Markets

Externalities: Social Benefits and Social Costs

Four Types of Goods and Two Characteristics

PPF - Comparative Advantage and Absolute Advantage

PPF - Comparative Advantage and Trade

Tariffs

Arguments Against International Trade