Liked this video lecture? Check out the complete course here: http://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism
This lecture is a part of a course on Demand & Supply Mechanism and Market Equilibrium.
In this course, I will take you through the heart of Economics - Demand and Supply Mechanism (Determined by Buyers and Sellers ) and we will discuss the following topics :
What is Demand?
Do you demand less when the price of a commodity rises.? Yes..? Think again..!
Law of Demand, Demand Schedule and Demand Curve
Movements and Shifts in Demand Curve
Is your Demand only a function of price?
What is supply?
Law of Supply, Supply Schedule and Supply Curve
Movements and Shifts in Supply Curve
What affects the supply of a good in a market?
We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?
How does this price mechanism function?
It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.
Click here to take this course - http://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism
Website: https://www.eduspred.com/
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