April 1, 2019
Learning objectives: – Draw the diagram for the labour market – Explain the term ‘derived’ demand – Explain the relationship between real wages and quantity of labour in hours.
Ning Ding
Learning objective: Using an appropriate diagram analyze the effect on the labour market.
Learning objective: Explain the effect of changes in the labour market on the real wage rate and quantity of labour in hours.
Get to know Basic Concepts: -- Perfect Competition is a type of market structure. -- Characteristics of Perfect Competition: Many firms sell identical products to many buyers. There are no restrictions to enter into the industry. Established firms have no advantages over new ones. Sellers and buyers are well informed about prices.
Learning objectives: Draw a diagram showing a shift of supply in a monopoly. Analyze the effect on market price and quantity traded.
Learning objectives: Describe the main features of a monopolistic market. Understand the diagram for a monopoly. Explain why economic profit in the long run is maintained.
Learning objectives: – Explain the effect, of factors influencing aggregate demand, on real GDP and price level. – Explain how long-run macroeconomic is established via the labour market.
Learning objectives: – Describe reasons for trade. – Explain the effect of trade on the domestic economy. – Explain the effect of trade on the domestic market.
September 1, 2020
nnb
Sabien Dobbelaere
Learning objective: Determine to what a market is perfectly competitive.