Unformatted text preview: 12. Describe the three dynamic laws of demand and supply. 13. What are the three invisible forces that influence market price? 14. Describe the interaction of the invisible forces in deciding market price. 15. Compare the features of Capitalism and Som. 16. What are the functions of price in a Capitalistic economy? National income flow chart ( The circular flow of resources, goods, and income.) 1. Clearly understand: a. The house-holds and the firms b. Factor market and product market c. Leakages and injections d. Role of the government and the financial sector in the macro economy. e. Private sector and the public sector...
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This note was uploaded on 03/24/2010 for the course ECON 201 taught by Professor Fairchild during the Spring '08 term at Northern Virginia.
- Spring '08