Lesson: Demand, Supply, and Efficiency
What did you learn?
What did you learn?
| Reflect |
Use this checklist to reflect on your understanding of key lesson concepts.
| I am able to… | Definitely | With help | Not at all |
| contrast consumer surplus, producer surplus, and social surplus |
|
|
|
| explain why price floors and price ceilings can be inefficient |
|
|
|
| analyze demand and supply as a social adjustment mechanism |
|
|
|
If you selected “with help” or “not at all,” to any of these concepts, go back to the lesson to review the relevant sections.