What is a market? - Organized market: stock market or disorganized ...
What is a market? -
Organized market: stock market or disorganized market: almost everything else
Concepts Related to Demand: -
Quantity Demanded: only makes sense if you specify a price. “if price wise..” Law of Demand: quantity demanded of a good falls. (Claim and not law) Demand Schedule: list of prices and quantities Market demand vs. individual demand:
If price changes – it affects quality demand PRICE If income changes, preferences – it affects demand
Organized market: stock market or disorganized market: almost everything else
Concepts Related to Demand: -
Quantity Demanded: only makes sense if you specify a price. “if price wise..” Law of Demand: quantity demanded of a good falls. (Claim and not law) Demand Schedule: list of prices and quantities Market demand vs. individual demand:
If price changes – it affects quality demand PRICE If income changes, preferences – it affects demand
