
ECO 3007 ECO3007 Week 2 Individual Work (Everest)
ECO3007 Week 2 Individual Work (Everest)
WRITING TO LEARN:
Select the top ten (10) most important ideas / concepts that you learned in chapters 3 & 4 of your textbook. NOTE: Choose five from each chapter.
Number your list and write a three to four sentence explanation of why each idea / concept is important to you and how it affects your life.
Chapter 3
1.        Relative Price versus Money Price
2.        Demand Curve
3.        Ceteris Paribus Conditions
4.        Change in Demand versus Change in Quantity Demanded
5.        Equilibrium and Equilibrium Price
Chapter 4
1.        Price Rationing
2.        Black Market and Price Ceilings
3.        Rent Controls
4.        Agricultural Price Floors
5.        Labor Market Price Floors