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Unit 3 Topic 1: Why supply and demand is considered as factors that make market

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Unit 3 Topic 1: Why supply and demand is considered as factors that make market economies work? Why supply and demand drives the market economy? Provide an example of the role of supply and demand in business decision making. Topic 2: What is the difference between a movement along and a shift of the demand and supply curves? What are the factors that lead to shifts in supply and demand curves? Topic 3: Governments may intervene in the market to control prices. What are the inefficiencies the price controls measures such as price ceilings and price floors create? Why do price ceilings and price floors lead to productive and allocative inefficiency?

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