Lecture 2: Applying Supply and Demand
author: Jonathan Gruber,
Department of Economics, Massachusetts Institute of Technology, MIT
recorded by: Massachusetts Institute of Technology, MIT
published: Dec. 3, 2012, recorded: September 2011, views: 4265
released under terms of: Creative Commons Attribution Non-Commercial Share Alike (CC-BY-NC-SA)
recorded by: Massachusetts Institute of Technology, MIT
published: Dec. 3, 2012, recorded: September 2011, views: 4265
released under terms of: Creative Commons Attribution Non-Commercial Share Alike (CC-BY-NC-SA)
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Description
You may not realize it, but every time you purchase something, you are participating in a market for that good. Some people supply it, and some people—you!—demand it. In this lecture, we will examine how to analyze supply and demand curves and the impact changes in market conditions and government policy can have on market equilibrium.
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