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Market: Group of buyers and sellers of a particular good or service

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Presentation on theme: "Market: Group of buyers and sellers of a particular good or service"— Presentation transcript:

1 Market: Group of buyers and sellers of a particular good or service
EC 201H Fall 2001

2 (Demand is the relationship, Quantity demanded is a number)
Demand: Relationship between quantity of a good that consumers are willing and able to buy and all of the factors that influence it (Demand is the relationship, Quantity demanded is a number) EC 201H Fall 2001

3 EC 201H Fall 2001

4 Demand for Pepperidge Farm Milano Cookies (Individual Demands)
EC 201H Fall 2001

5 Demand for Pepperidge Farm Milano Cookies (Individual and Market)
EC 201H Fall 2001

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