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Law of Demand Law of Supply Changes in Demand Changes in Supply Market Structures (types of) Conditions for Perfect Competition Collusion Types of Monopolies Price and allocation functions of Laissez faire Deficiency Payments Elasticity Types of Costs Stages of Production Diminishing Returns Supply/Demand Drill How markets fail Price floors/examples Price ceilings/examples Surpluses Shortages Be able to read and analyze graphs (Demand curves)