Ch 61: CEOE Business Education: Supply and Demand

About This Chapter

The videos and quizzes in this chapter provide an in-depth review of supply and demand to get you ready for the CEOE Business Education exam. Each lesson teaches you all the related concepts that you could be asked about on the exam.

CEOE Business Education: Supply and Demand - Chapter Summary

Refresh yourself on the supply and demand concepts you studied in college with our brief and engaging video lessons. Each lesson breaks down a larger concept into bite-sized chunks covering essential info you'll need for the CEOE Business Education exam, including:

  • Ceteris paribus in economics
  • Microeconomics' demand curve
  • Changes in supply and demand
  • Market equilibrium
  • Price elasticity and cross price elasticity of demand
  • Free market competition
  • Economic barriers to entry

With these lessons, you'll find a flexible format that allows you to learn or review supply and demand topics from anywhere using a computer or your mobile device. You can determine how you study by re-watching videos as often as you need, watching just the main points of the lessons with the video tags or skipping the lessons you've already mastered.

Objectives of the CEOE Business Education: Supply and Demand Chapter

Supply and demand is a concept that is tested in the finance and economics subarea of the exam, which is one of five subareas and makes up about 17% of the exam. The CEOE Business Education exam is designed to assess your comprehension of business fundamentals before you can be licensed as a business teacher in Oklahoma. You'll find a constructed-response question and 80 selected-response questions. Before you register, get familiar with the format of the selected-response questions by taking our quizzes. These quizzes check to make sure you understand the important components of the lesson and feature questions presented in the same format as the exam's questions.

9 Lessons in Chapter 61: CEOE Business Education: Supply and Demand
Test your knowledge with a 30-question chapter practice test
The Concept of Ceteris Paribus in Economics

1. The Concept of Ceteris Paribus in Economics

Learn what ceteris paribus means and why it is so important in economics. Find out how it helps us simplify and understand the relationship between different economic variables and forces. See some easy examples to help drive home its importance.

Understanding the Demand Curve in Microeconomics

2. Understanding the Demand Curve in Microeconomics

Learn what the demand curve in microeconomics is. Find out the common components of the demand curve and how they are created. See what causes a movement along a demand curve and what causes a shift of the entire curve.

Causes of Supply and Demand Changes in Microeconomics

3. Causes of Supply and Demand Changes in Microeconomics

Learn what causes movements along the supply and demand curves. See how market forces work to cause these movements and the important role that price plays in this.

Market Equilibrium from a Microeconomics Perspective

4. Market Equilibrium from a Microeconomics Perspective

Learn about the definition of market equilibrium. Learn how to identify the equilibrium point on a supply and demand graph and discover what causes this point to change in our everyday lives.

Microeconomic Shifts in Supply and Demand Curves

5. Microeconomic Shifts in Supply and Demand Curves

Learn about the important forces that can cause the demand and supply curve to shift. Discover how this affects equilibrium and the prices you pay for goods and services.

Price Elasticity of Demand in Microeconomics

6. Price Elasticity of Demand in Microeconomics

Discover the definition and formula for price elasticity of demand. See some real-world examples of how it is calculated, and find out what it means for demand of a good to be inelastic or elastic.

Cross Price Elasticity of Demand: Definition and Formula

7. Cross Price Elasticity of Demand: Definition and Formula

Learn what cross price elasticity of demand means. Find out why business owners and economists like to know cross price elasticity, and discover how to calculate it. See some everyday examples.

Competition Within Free Markets: Types & Summary

8. Competition Within Free Markets: Types & Summary

We live in a free market economy, but that doesn't mean there is always free competition. In this lesson, you'll learn about perfectly competitive markets, monopolies, monopolistic markets and oligopolies.

Barriers to Entry in Economics: Definition, Types & Examples

9. Barriers to Entry in Economics: Definition, Types & Examples

Economic barriers to entry are part of the reason some companies thrive and others fail. Learn what barriers to entry are and why they are so important to understand before entering a specific business or market. Read about some current-day examples.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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Other Chapters

Other chapters within the OSAT Business Education (CEOE) (040): Practice & Study Guide course

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