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“Demand, in economics, is the willingness and ability of consumers to purchase a given amount of a good or service at a given price. Supply is the willingness of sellers to offer a given quantity of a good or service for a given price.”
― Economics for Investment Decision Makers: Micro, Macro, and International Economics
― Economics for Investment Decision Makers: Micro, Macro, and International Economics
“Factor markets are markets for the purchase and sale of factors of production. In capitalist private enterprise economies, households own the factors of production (the land, labor, physical capital, and materials used in production). Goods markets are markets for the output of production.”
― Economics for Investment Decision Makers: Micro, Macro, and International Economics
― Economics for Investment Decision Makers: Micro, Macro, and International Economics
“Macroeconomics deals with aggregate economic quantities, such as national output and national income. Macroeconomics has its roots in microeconomics, which deals with markets and decision making of individual economic units, including consumers and businesses. Microeconomics is a logical starting point for the study of economics.”
― Economics for Investment Decision Makers: Micro, Macro, and International Economics
― Economics for Investment Decision Makers: Micro, Macro, and International Economics
