Class Notes (835,007)
Canada (508,866)
Economics (1,614)
ECON 1BB3 (535)
Lecture

Lecture one

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Department
Economics
Course
ECON 1BB3
Professor
Bridget O' Shaughnessy
Semester
Winter

Description
What affects your decision to go the movies Marketso Market group of buyers and sellers o There are 4 types of market structure 1 Perfect competitionlots of identical buyers sellers 2 Monopoly one seller 3 Oligopoly4 Monopolistic competition a lots of firms and not selling identical stuff Demand y Quantity demandedthe amount of a good that buyers are willing and able to purchase o The variables that influence how much buyers want to buy are 1 Price 2 Income a Norm
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