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Markets and the concept of effective demand
This brief introduction to unit 2 defines what a market is and clarifying the concept of effective vs nominal demand.
Constructing individual and market demand curves
This video uses a very simple example of two individuals to show how market demand is calculated and graphed.
Why and how the demand curve shifts
This video explains why and how the demand curve shifts.
Graphing changes in supply
This video teaches you how to correctly graph an increase or decrease in supply.
Extension and contraction in supply
This video teaches you how to draw an extension and contraction in supply.
