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Unformatted text preview: Chapter
Chapter 3 Study Suggestions
Before lecture on Wednesday, September 7:
Read pages 64-89 of the textbook, skipping the sections “What Explains the Law of Demand?” and
“The Effect of Shifts in Demand and Supply over Time.”
Note the definitions of all of the following terms: perfectly competitive market, demand schedule,
quantity demanded, demand curve, market demand, law of demand, ceteris paribus (“all else equal”)
condition, normal good, inferior good, substitutes, complements, demographics, quantity supplied,
supply schedule, supply curve, law of supply, technological change, market equilibrium, competitive
market equilibrium, surplus, & shortage.
After lecture on Monday, September 12:
Re-read pages 64-89 of the textbook, skipping the sections “What Explains the Law of Demand?”
and “The Effect of Shifts in Demand and Supply over Time.”
Read pages 53-60 of the study guide, skipping the material on the income and substitution effects
and the effect of simultaneous shifts in demand and supply.
Do Multiple-Choice Questions 1-8, 10, & 13-45 in the study guide.
Do Short Answer Questions 1-6 in the study guide.
Do True/False Questions 1, 2, 4, 5, 7, 9, 11, 14, & 15 in the study guide.
Between 12:00am on Tuesday, September 27 and 11:59pm on Wednesday, September 28:
Take and submit Chapter 3 Quiz on ICON!
General Study Suggestions
The textbook/study guide is intended to reinforce, not replace, the information presented during lecture
In economics, graphs are tools that can help you answer questions ~ use them!
Understanding a problem that is presented to you is not the same as doing the problem yourself ~ practice!
Ask Professor Fuhrman and/or the TAs questions during lecture, discussion, office hours, and/or via email. Page 1 of 1 ...
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This note was uploaded on 09/26/2011 for the course 06E 002 taught by Professor Kim during the Spring '08 term at University of Iowa.
- Spring '08