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#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4

This reading is organized as follows.

Section 2 explains how economists classify markets.

Section 3 covers the basic principles and concepts of demand and supply analysis of markets.

Section 4 introduces measures of sensitivity of demand to changes in prices and income.
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1. INTRODUCTION
s to converge to an equilibrium price? What are the conditions that would make that equilibrium stable or unstable in response to external shocks? How do different types of auctions affect price discovery? <span>This reading is organized as follows. Section 2 explains how economists classify markets. Section 3 covers the basic principles and concepts of demand and supply analysis of markets. Section 4 introduces measures of sensitivity of demand to changes in prices and income. A summary and practice problems conclude the reading. <span><body><html>

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