Listen "Managerial Application of Demand and Supply Analysis"
Episode Synopsis
The episode focuses on the economic concepts of demand and supply. One section is a detailed academic module explaining elasticity of demand, its various types (price, income, cross-price, advertising), calculation methods, and business applications. Another section applies demand and supply models to real-world markets like personal computers, crude oil, gasoline, and the stock market, also exploring government interventions (price floors and ceilings) and their consequences in agricultural and rental markets. A third section provides an overview of demand and supply, examining their meanings, laws, influencing factors, and market equilibrium. The final section similarly examines demand and supply, focusing on their relationship with the price mechanism and the role of government intervention in achieving economic and social equilibrium.
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