Micro: Unit 1.3 -- Market Equilibrium

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Define market equilibrium, market shortage, and market surplus
- Explain how disequilibrium is created and how natural market forces return the market
to equilibrium
- Use data and graphs to calculate changes in quantity demanded and supplied when
prices change in a market
- Demonstrate how changes in supply and demand affect price and quantity in the
product market
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