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  • MODULE 3 Applied Economics

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    Raiza Cabrera
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    Market demand refers to the total quantity of a good or service that all consumers would be willing and able to purchase at various possible prices during a given period. Market supply represents the total quantity of a good or service that producers in a market are willing to supply at various possible prices during a given period. Market equilibrium exists when the quantity demanded is equal to the quantity supplied, resulting in a market clearing price.

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    Market demand refers to the total quantity of a good or service that all consumers would be willing and able to purchase at various possible prices during a given period. Market supply represents the total quantity of a good or service that producers in a market are willing to supply at various possible prices during a given period. Market equilibrium exists when the quantity demanded is equal to the quantity supplied, resulting in a market clearing price.

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    31 views12 pages

    MODULE 3 Applied Economics

    Uploaded by

    Raiza Cabrera
    Market demand refers to the total quantity of a good or service that all consumers would be willing and able to purchase at various possible prices during a given period. Market supply represents the total quantity of a good or service that producers in a market are willing to supply at various possible prices during a given period. Market equilibrium exists when the quantity demanded is equal to the quantity supplied, resulting in a market clearing price.

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    © All Rights Reserved
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    of 12

    APPLIED ECONOMICS

    Learning Competency:
    By the end of this lesson, you will be able to

    determine the concepts of market demand,


    market supply and market equilibrium
    ABM_AE12-Ie-h3
    Market Demand, Market Supply
    and Market Equilibrium

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