IIRF Online > Finance & Accounting > Economics > Behavioral Economics > Economics : Behavior of Buyers and Sellers & Product Pricing
Economics : Behavior of Buyers and Sellers & Product Pricing by Udemy
The Easiest Beginner level Course on Economics with real life examples and graphic content. Perfect for Newbies!
Course Highlights
- Understand how the price of a product is determined via Demand and Supply interactions
- Learn how factors like income of consumer, fashion, demographic structure, business location etc. can affect the product's sales
- Develop an intuitive understanding of how to price a product in a market based on competition and product type
- Start talking basic economics in real life
- Feel more confident to go for further concepts
Skills you will learn!
Curriculum
1 Topic
Introduction to the course and the instructor
9 Topics
Demand vs Quantity Demanded
Law of Demand and Demand Curve
Individual Demand and Market Demand
Movements along a Demand Curve (Change in quantity demanded)
Shifts in Demand Curve (Change in Demand)
Shifts in Demand Curve (Continued)
Share your experience
Food for thought..!
Quiz (Demand) - 8 Questions
6 Topics
Supply and Quantity Supplied
Law of Supply Supply Schedule and Supply Curve
Movements along a Supply Curve (Change in quantity supplied)
Shifts in Supply Curve (Change in Supply)
Quiz (Supply) - 4 Questions
Share your experience
9 Topics
Market Equilibrium
Why equilibrium price is determined when demand equals supply?
3 steps to analyze changes in equilibrium
Effect of shift in Demand and shift in Supply on market equilibrium
Effect of simultaneous shift in Demand and Supply on market equilibrium
Food for thought..!
Quiz (Demand and Supply Together) - 3 Questions
Some Additional Practice Questions - Miscellaneous (6 Questions)
Solutions to Some Additional Practice Questions
14 Topics
Elasticity - Measure of Responsiveness
Price Elasticity of Demand and its determinants
Percentage Change Method
Problems with Percentage change method
Playing with formulas
Why isn't slope a measure of responsiveness?
Geometric Method
Proof of Geometric Method (Optional)
Revisiting the results of Geometric method
Total revenue and Price Elasticity of Demand
Constant Elasticity Demand Curves
Flatter the demand curve greater the Elasticity
Other Demand Elasticities
Quiz (Elasticity of Demand) - 5 Questions (Not that Straightforward)
6 Topics
Price Elasticity of Supply and its determinants
How to compute price elasticity of supply?
Constant Elasticity Supply Curves
Proof : Situation when Price Elasticity of supply is always equal to 1
Case when elasticity of supply is not constant
Quiz (Elasticity of Supply) - 4 Questions
1 Topic
Bonus Lecture
Economics : Behavior of Buyers and Sellers & Product Pricing
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