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Microeconomics

Supply, demand, and market equilibrium

Microeconomics

Supply, demand, and market equilibrium

Lessons

Introduction to economics

Learn
Introduction to economics
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Economic models
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Scarcity
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The demand curve

Learn
Law of demand
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Law of demand
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Price of related products and demand
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Change in expected future prices and demand
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Changes in income, population, or preferences
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Normal and inferior goods
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Inferior goods clarification
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What factors change demand?
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The supply curve

Learn
Law of supply
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Law of supply
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Factors affecting supply
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What factors change supply?
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Long term supply curve
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Market equilibrium

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Market equilibrium
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Market equilibrium
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Changes in market equilibrium
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Changes in equilibrium price and quantity: the four-step process
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What drives oil prices

Learn
Breakdown of gas prices
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Short-run oil prices
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About this unit

The core ideas in microeconomics. Supply, demand and equilibrium.