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Micro 5.3 Comparing Product and Resource Markets: Econ Concepts in 60 Seconds- Review

Mr. Clifford's 60 second explanation of the differences between a perfectly competitive product market and a perfectly competitive resource market. Notice that the firms both have a horizontal curve but in the product market it is demand and in the resource market it is supply. Pease keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class. ACDC is Mr. Clifford's teaching philosophy: Active Learning Cooperative Learning Discovery Learning Community