Title: (Optional) Describe the effect of supply and demand on a free enterprise system.
Course: Principles of Business and Marketing (12051-36) > Section: Understanding the Role of Economics in a Global Economy

Description should include examination of

- the relationships among supply, the law of supply, demand, the law of demand, and economic equilibrium
- the effects of shortages and surpluses on the economy (e.g., buyers’ market vs. sellers’ market)
- the effects of changes in supply and/or demand on equilibrium
- dollar vote, as related to supply and demand.