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MODULE 3 Applied Economics

Market demand refers to the total quantity of a good or service that all consumers would be willing and able to purchase at various possible prices during a given period. Market supply represents the total quantity of a good or service that producers in a market are willing to supply at various possible prices during a given period. Market equilibrium exists when the quantity demanded is equal to the quantity supplied, resulting in a market clearing price.

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117 views12 pages

MODULE 3 Applied Economics

Market demand refers to the total quantity of a good or service that all consumers would be willing and able to purchase at various possible prices during a given period. Market supply represents the total quantity of a good or service that producers in a market are willing to supply at various possible prices during a given period. Market equilibrium exists when the quantity demanded is equal to the quantity supplied, resulting in a market clearing price.

Uploaded by

Raiza Cabrera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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APPLIED ECONOMICS

Learning Competency:
By the end of this lesson, you will be able to

determine the concepts of market demand,


market supply and market equilibrium
ABM_AE12-Ie-h3
Market Demand, Market Supply
and Market Equilibrium

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