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# Supply and Demand

AP Micro: MKT (BI), POL (BI)

AP Micro: MKT (BI), MKT‑3.A (LO), MKT‑3.A.1 (EK), MKT‑3.A.2 (EK), MKT‑3.A.3 (EK), MKT‑3.A.4 (EK), MKT‑3.A.5 (EK), MKT‑3.A.6 (EK), MKT‑3.B (LO), MKT‑3.B.1 (EK)

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Markets, property rights, and the law of demandGet 3 of 4 questions to level up!

Demand and the determinants of demandGet 3 of 4 questions to level up!

AP Micro: MKT (BI), MKT‑3 (EU), MKT‑3.C (LO), MKT‑3.C.1 (EK), MKT‑3.C.2 (EK), MKT‑3.D (LO), MKT‑3.D.1 (EK)

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Supply and the law of supplyGet 3 of 4 questions to level up!

Changes in the determinants of supplyGet 3 of 4 questions to level up!

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AP Micro: MKT (BI), MKT‑3 (EU), MKT‑3.E (LO), MKT‑3.E.1 (EK), MKT‑3.E.2 (EK), MKT‑3.E.3 (EK), MKT‑3.E.4 (EK), MKT‑3.E.5 (EK)

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Price Elasticity of Demand and its Determinants Get 3 of 4 questions to level up!

Determinants of price elasticity and the total revenue ruleGet 3 of 4 questions to level up!

AP Micro: MKT (BI), MKT‑3 (EU), MKT‑3.E (LO), MKT‑3.E.6 (EK), MKT‑3.E.7 (EK), MKT‑3.E.8 (EK)

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Price Elasticity of Supply and its DeterminantsGet 3 of 4 questions to level up!

AP Micro: MKT (BI), MKT‑3 (EU), MKT‑3.E (LO), MKT‑3.E.10 (EK), MKT‑3.E.11 (EK), MKT‑3.E.9 (EK)

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Income Elasticity of DemandGet 3 of 4 questions to level up!

Cross-Price Elasticity of DemandGet 3 of 4 questions to level up!

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AP Micro: MKT (BI), MKT‑4 (EU), MKT‑4.A (LO), MKT‑4.A.1 (EK), MKT‑4.A.2 (EK), MKT‑4.A.3 (EK), MKT‑4.A.4 (EK), MKT‑4.A.5 (EK)

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Market equilibriumGet 3 of 4 questions to level up!

Consumer and Producer Surplus and Allocative EfficiencyGet 3 of 4 questions to level up!

AP Micro: MKT (BI), MKT‑4 (EU)

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Changes in equilibriumGet 3 of 4 questions to level up!

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AP Micro: POL (BI), POL‑1 (EU), POL‑1.B (LO), POL‑1.B.1 (EK), POL‑1.B.2 (EK), POL‑1.B.3 (EK)

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Price and quantity controlsGet 3 of 4 questions to level up!

The effect of government interventions on surplusGet 3 of 4 questions to level up!

Tax Incidence and Deadweight LossGet 3 of 4 questions to level up!

AP Micro: POL (BI), POL‑1 (EU)

Level up on the above skills and collect up to 400 Mastery points

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Level up on all the skills in this unit and collect up to 1600 Mastery points!#### Unit test

### About this unit

This unit begins the study of product markets: the markets for the goods and services produced. In this unit, you will begins the study of product markets, focusing on the supply and demand model. Students will be introduced to the determinants of demand and supply, market equilibrium, and how changes in equilibrium occur when supply and demand change. Then, build on the supply and demand model to deepen your economics toolkit with the concepts of elasticity, consumer and producer surplus, and the impact of government policies.AP® is a registered trademark of the College Board, which has not reviewed this resource.