Theory of Supply and Demand

Lecture slides on how supply and demand together determine the price of a good and the quantity sold in a market, and on the role prices play in allocating resources. Covers what counts as a market, buyers as the demand side, the determinants of demand including income, tastes, the prices of substitutes and complements and policy effects on complements, then quantity supplied as the amount sellers are willing to sell with its own determinants of price, input prices, technology and expectations, ending on the adjustment of the two curves to equilibrium.