Main content

Supply and Demand

AP Micro: MKT (BI), POL (BI)
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)
Level up on the above skills and collect up to 400 Mastery points
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)
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)
Level up on the above skills and collect up to 500 Mastery points
AP Micro: MKT (BI), MKT‑4 (EU)
Practice
Changes in equilibriumGet 3 of 4 questions to level up!
Level up on the above skills and collect up to 300 Mastery points
Level up on the above skills and collect up to 400 Mastery points
Up next for you:

Unit test

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

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.