Microeconomics   ©
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Assignments for Microeconomics Chapter 1

A-1.1: How would one go about transferring a demand schedule onto
 a graph? Why are demand schedules commonly graphed? Why is the
 graph more useful than a table of numbers?

A-1.2: What are the nonprice determinants of demand? Provide an
 example of how each of them effect demand.

A-1.3: How is the supply of goods influenced by increases and
 decreases in resource prices? How do these changes effect
 the supply curve?

A-1.4: What nonprice determinants influence supply? Provide a
 brief example of how they shift the supply curve. Which
 supply determinants influence price the most?

A-1.5:  What is the difference between the income effect and the
 substitution effect? What conditions must be present for
 these effects to take place?