Lesson 3 Lesson 3: Supply & Demand
Presented by: Dr. Tawni Ferrarini
Northern Michigan University
Coordination via Markets: Demand and Supply
In a market economy, who is looking out for the good of society as a whole? Well, no one. Despite this apparent negligence, however, market economies have proven remarkably successful in promoting overall well-being. Supply and demand are key to understanding why. The following lesson describes how the behavior of people interacting in competitive markets is coordinated for the good of buyers and sellers.

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Common Sense Economics Reading Supplement, “Demand, Supply, and Adjustments to Dynamic Change
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