In this episode of the Economic Lowdown Video Series, economic education specialist …
In this episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains the concept of equilibrium. Viewers will get a refresher on the laws of supply and demand before they learn about market equilibrium – the point at which there is no shortage or surplus of a good or service.
By the end of this section, you will be able to do …
By the end of this section, you will be able to do the following:
Describe the basic ecosystem types Explain the methods that ecologists use to study ecosystem structure and dynamics Identify the different methods of ecosystem modeling Differentiate between food chains and food webs and recognize the importance of each
By the end of this section, you will be able to do …
By the end of this section, you will be able to do the following:
Define matter and elements Describe the interrelationship between protons, neutrons, and electrons Compare the ways in which electrons can be donated or shared between atoms Explain the ways in which naturally occurring elements combine to create molecules, cells, tissues, organ systems, and organisms
By the end of this section, you will be able to: Contrast …
By the end of this section, you will be able to: Contrast consumer surplus, producer surplus, and social surplus Explain why price floors and price ceilings can be inefficient Analyze demand and supply as a social adjustment mechanism
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain demand, quantity demanded, and the law of demand Identify a demand curve and a supply curve Explain supply, quantity supplied, and the law of supply Explain equilibrium, equilibrium price, and equilibrium quantity
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain protectionism and its three main forms Analyze protectionism through concepts of demand and supply, noting its effects on equilibrium Calculate the effects of trade barriers
By the end of this section, you will be able to: Predict …
By the end of this section, you will be able to:
Predict shifts in the demand and supply curves of the labor market Explain the impact of new technology on the demand and supply curves of the labor market Explain price floors in the labor market such as minimum wage or a living wage
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