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Price quantity combination - PowerPoint PPT Presentation

Economics 202 Principles Of Macroeconomics

Economics 202 Principles Of Macroeconomics. Lecture 3: Review of Demand and Supply Demand Supply. Markets and Prices. A market is any arrangement that enables buyers and sellers to get information and do business with each other.

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Objectives: Use the utility-maximizing model to explain how consumers choose goods and services.

Objectives: Use the utility-maximizing model to explain how consumers choose goods and services. Use the concept of utility to explain how the law of demand results from consumers adjusting their consumption choices to changes in prices. Module 11: The Utility-Maximizing Model. Objective 1

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316 views • 20 slides

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Price quantity combination - PowerPoint PPT Presentation

Economics 202 Principles Of Macroeconomics

Objectives: Use the utility-maximizing model to explain how consumers choose goods and services.