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EC1002 Chapter 4 Lesson 1 - Introduction to Market Structures [Full]
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Welcome to the Real Quickienomics. You are watching the full version of EC1002 Introduction to Economics Chapter 4 Lesson 1 - Introduction to Market Structures.
Key Topics:
- What is a Market and why must you know what it does?
- How does the market determine the price of a good? It's more than just demand & supply.
- How is the market demand curve derived?
- What is the difference between the short run and long run analysis and why must we have both?
- A brief discussion on profits. Can you identify the 3 types of profits?
- There are 4 types of market structures. What determines the type of structure a market is?
- A brief introduction of Perfect Competition and Monopoly. How are they different in terms of analysis?
- What is monopolistic power and how do we measure it?
- An introduction to allocative efficiency in market structures. Also known as social welfare
Key Topics:
- What is a Market and why must you know what it does?
- How does the market determine the price of a good? It's more than just demand & supply.
- How is the market demand curve derived?
- What is the difference between the short run and long run analysis and why must we have both?
- A brief discussion on profits. Can you identify the 3 types of profits?
- There are 4 types of market structures. What determines the type of structure a market is?
- A brief introduction of Perfect Competition and Monopoly. How are they different in terms of analysis?
- What is monopolistic power and how do we measure it?
- An introduction to allocative efficiency in market structures. Also known as social welfare
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