Exercises

Skills required: Understanding the concepts, Understanding the meaning of equilibrium, Identify the quantity transacted under shortage, Identify the quantity transacted under surplus

Skills required: Distinguish demand and quantity demanded

Skills required: Distinguish supply and quantity supplied

Skills required: State the law of demand, Give examples that can illustrate the law of demand

Skills required: Distinguish the difference between supply and quantity supplied, understanding the market mechanism

Skills required: Distinguish the difference between demand and quantity demanded, understanding the market mechanism

Skills required: Identify shortage from a demand and supply table, Identify the quantity transacted under shortage from a demand and supply table

Skills required: Identify surplus from a demand and supply table, Identify the quantity transacted under surplus from a demand and supply table

Skills required: Identify shortage from a demand and supply table, Identify the quantity transacted under shortage from a demand and supply table

Skills required: Identify shortage from a demand and supply table, Identify the quantity transacted under shortage from a demand and supply table

Skills required: Understanding the meaning of surplus, Identify surplus from a demand and supply diagram, Identify the quantity transacted under surplus from a demand and supply diagram, Understanding the market force, State the equilibrium condition

Skills required: Distinguish the difference between supply and quantity supplied, understanding the market mechanism

Skills required: Understanding the meaning of shortage, Identify shortage from a demand and supply diagram, Identify the quantity transacted under shortage from a demand and supply diagram, Understanding the market force, State the equilibrium condition

Skills required: Understanding the meaning of shortage, Understanding the meaning of surplus Understanding the market force

Skills required: Understanding the meaning of shortage, Identify shortage from a demand and supply diagram, Identify the quantity transacted under shortage from a demand and supply diagram

Skills required: Understand the meaning of derived demand and production of production.

Skills required: Understanding the meaning of surplus, Identify surplus from a demand and supply diagram, Identify the quantity transacted under surplus from a demand and supply diagram

Skills required: Draw a downward sloping demand curve, Understand the law of demand