1. In the model of demand an supply what are the endogenous variables?

2. In the model of demand an supply what are the exogenous variables?

3. What is the difference between a supply function and a supply curve?

4. What is the difference between a demand function and a demand curve?

5. What is the difference between quantity demanded and demand?

6. What is the difference between quantity supplied and supply?

7. How do you obtain the market supply function from the individual supply functions?

8. How do you obtain the market demand function from the individual demand functions?

9. What is the difference between a movement along the supply curve and a shift of

the supply curve?

10. What is the difference between a movement along the demand curve and a shift of

the demand curve?

11. What is the law of supply? Write it "mathematically" and explain the intuition behind

it.

12. What is the law of demand? Write it "mathematically" and explain the intuition

behind it.

13. What do we mean by (competitive) market equilibrium?

14. What do we mean by a competitive market that is not in equilibrium?

15. How do we "use" the model of demand and supply?

16. What do we mean by comparative statics?

17. What is the formula for the slope of the demand curve? What is the economic meaning?

18. What is the formula for the (price) elasticity of demand? What is the economic meaning?

19. What is the formula for the slope of the supply curve? What is the economic meaning?

20. What is the formula for price elasticity of supply? What is the economic meaning?

21. What is the formula for the slope of the demand function with respect to income?

What is the economic meaning?

22. What is the formula for the income elasticity of demand? What is the economic

meaning?

23. What is the formula for the slope of the demand function of rice to the price of

wheat? What is the economic meaning?

24. What is the formula for cross elasticity of demand of rice respect to the price of

wheat?

25. What is the relation between total revenue and price elasticity of demand?

26. Given the price elasticity of demand and the price elasticity of supply can you obtain

the linear approximation of the demand curve and supply curve passing through a

given point?