Topic 10: Demand and Supply

Contents

A) Introduction

v  Market

v  Desire

v  Price

v  Utility

v  Demand

B) Detailed study of Demand

v  Demand for products

v  Law of demand

v  Levels of demand

v  Demand Schedule

v  Demand Curve

C) Detailed study of Supply

v  Supply of a Commodity

v  Output and Supply

v  Law of supply

v  Supply Schedule

v  Supply Curve

D) Markets in Action

v  Equilibrium Price

v  Price Determination

v  Movements of demand curve

v  Causes of Shifts in Demand Curve

v  Movements along the demand curve

v  Effects of changes in demand on Market Price

v  Movements of supply curve

v  Causes of Shifts in Supply Curve

v  Movements along supply curve

v  Effects of changes in supply on Market Price

v  Non-market prices

v  Commodities with fixed supply

v  Imposing Taxes

v  Granting Subsidies