A microeconomics principles course typically wraps up with topics about resource markets. If you remember the "Circular Flow Model" talked about in macroeconomics, the details about resource markets make a lot more sense. Think back to the earlier chapters on demand and supply when the "market" studied was the product (i.e., output) market, not the resource (i.e., input) market.
In product markets --- households demand products and firms supply products. Households are the buyers and firms are the sellers.
In resource markets --- households supply labor (& other resources) and firms demand labor (& other resources). Households are now sellers and firms are now buyers.
Other than that, the same rules hold. The Laws of Demand and Supply still exist, as do shortages and surpluses and the market adjustment process. Prices still move towards equilibrium, not away from it, and the shifts in demand and supply also cause P* (equilibrium price) and Q* (equilibrium quantity) to change.
Get ready to study some more great stuff about labor markets and capital markets!
