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Microeconomics Fundamentals: Introduction, Market Model, and Demand & Supply

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Introduction to Economics

Scarcity and Choice

Factors of Production

People Are Rational

Marginal Analysis

Circular Flow Diagram

Competitive Markets

The Demand Curve

Shifts in the Demand Curve

Movement Along a Demand Curve

The Supply Curve

Shifts in the Supply Curve

Movement Along a Supply Curve

Market Equilibrium

Using the Supply and Demand Curves to Find Equilibrium

Effects of Surplus

Effects of Shortage