Tag Archives: price
DUAL Economics Module 5: Competition, Monopoly, & Profit
Return to Modules Objectives: Describe the role of competition in a market economy Understand the causes and effects of monopoly Examine the role of profit in a market economy Reading For This Module: From “Introducing Economics through a Collection of … Continue reading
Posted in DUAL, Economics
Tagged competition, incentives, monopolies, monopoly, price, profit
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DUAL Economics Module 3: Supply, Demand & the Price System
Return to Modules Objectives: Demonstrate how prices can guide individual behavior and continually change incentives of buyers and sellers in markets Illustrate Adam Smith’s idea of “the invisible hand” and F.A. Hayek’s idea of “spontaneous order.” Discuss exchange, voluntary cooperation, and … Continue reading
Posted in DUAL, Economics, Week1
Tagged demand, equilibrium, incentives, information, markets, price, price system, supply
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