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 * [|Quizlet Flashcards](Mostly helpful for drilling determinants)**


 * Demand**

Interactive [|Chart]. (**Ignore determinants 7 and 8. They are outside the scope of our course).**


 * Supply**

Interactive [|Chart]

[|Interactive Chart]
 * Shifts of Supply and Demand**


 * Equilibrium**


 * Elasticity**

1. Know the effects of different elasticities (Elastic, Inelastic, and Unit Elastic) when there is an increase/decrease in Price or Quantity Demanded.

Be able to do a question like this:


 * Pizzas Demanded per Week ||
 * Price (per slice) || Quantity Demanded ||
 * $6 || 100 ||
 * $5 || 150 ||
 * $4 || 200 ||
 * $3 || 300 ||
 * $2 || 450 ||
 * $1 || 600 ||
 * $0 || 800 ||

a. What is the elasticity of demand between $4 and $5? b. Is the change in Quantity Demanded from $5 to $6 inelastic, unit elastic, or elastic?


 * Price Ceilings/Price Floors**


 * Focus your study for the exam:**
 * 1. Determinants of Supply, Demand, and Elasticity. Apply determinants to problems to decide what shifts happen to the curve.**
 * 2. Elasticity. Mathematically figure out Elasticity**
 * 3. Equilibrium Price**
 * 4. Create Supply/Demand Curve from data table**
 * 5. Shift Supply/Demand Curve (How does the quantity/price change? How is this reflected on paper?)**
 * 5. Price Ceilings/Price Floors (MAKE SURE YOU GO THROUGH THE POWERPOINT AT THE BOTTOM OF THIS PAGE)**
 * 7. Supply vs. Quantity Supplied.**
 * 8. Demand vs. Quantity Demanded.**