“CUET Economics Notes by Artham Resources: Chapter 7 – Simple Application of Tools of Demand & Supply. Explores practical scenarios applying demand and supply analysis, including market equilibrium, price determination, and consumer behavior.”
Content of Chapter 7 – Simple Application of Tools of Demand & Supply:
- Understanding Demand and Supply Curves
- Market Equilibrium: Intersection of Demand and Supply
- Price Determination in Competitive Markets
- Impact of Changes in Demand and Supply on Equilibrium Price and Quantity
- Elasticity of Demand and Supply: Price Sensitivity and Responsiveness
- Consumer Behavior: Factors Influencing Demand and Purchasing Decisions
- Applications of Demand and Supply Analysis in Real-World Market Situations
Ritika Sharma –
These Economics notes are extremely clear and easy to follow. Every topic is explained step by step, which made my exam preparation super smooth.