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Even before you studied economics, you’d no doubt heard about supply and demand, and you probably knew that “the laws of supply and demand” can explain the prices of the things you buy
. In these chapters, we will study how supply and demand curves interact to create market equilibrium, where both sellers and buyers get what they want, as well as additional factors that can alter these curves.The Market is the second of eight SparkNotes Economics guides. It covers the following topics:
- Demand
- Supply
- Market Equilibrium
- Elasticity
- Government Involvement
Visit all the SparkNotes Economics guides here: