Supply and Demand
0%Economics
Supply and Demand
Intermediate~18 min14 steps
Two lines crossing — and the reason prices move when nobody decides to move them.
You’ll learn
- Explain why the demand curve slopes down and the supply curve slopes up
- Locate the equilibrium price and quantity on a graph
- Predict the effect of a shift in supply or demand
- Distinguish a movement along a curve from a shift of the curve
- Solve for equilibrium algebraically
- Use elasticity to predict how buyers react to a price change
- Predict the effects of price ceilings, price floors and taxes