Microeconomics 2.3​ 
Evaluate the Market (price mechanism)+Resource Allocation
Online Activities:
1.1 - Competitive Markets

1.     Market

2.     Price mechanism

3.     price (signal and incentive function)

4.     consumer demand

5.     market demand

6.     firm supply

7.     market supply

8.     clearing price/equilibrium

9.     demand function

10.  law of demand

11.  supply function

12.  law of supply

13.  ceteris paribus

14.  movement in demand

15.  movement in supply

16.  price control

17.  productive efficiency

18.  shift in demand

19.  shift in supply

20.  subsidy

21.  normal goods

22.  inferior goods

23.  substitute goods

24.  complementary goods

25.  producer surplus

26.  consumer surplus

27.  community/social surplus

28.  Allocative efficiency (marginal benefit = marginal cost)

Phrases from syllabus:

1.     Price (signal and incentive function) 

VID 17: Price of Roses
VID 1: Equilibrium Price and Quantity
VID 2: Demand: Mjm Foodie
VID 3: Demand Shift: Mjm Foodie
VID 4: Supply: Mjm Foodie
VID 5: Welker: Shift + Movement in Demand
VID 7: Welker: b and d variables in Demand + Supply Equations
VID 6: Welker: Law of Demand
VID 8: Welker: Supply Shift + Movement
VID 9:  Equilibrium: MjM Foodie
VID 10: Welker: Supply Linear Equations
VID 11: Welker: Diminishing Marginal Returns (Product)
VID 12: Utility: tutor2u
VID 13: Utility: Welker
VID 14: Circular Flow: Tutor2You
VID 15: Adam Smith- 'invisible hand'.
VID 16: Pricing on an aeroplane.
105- word version