Ch 3: Demand, Supply and Market Equilibrium: Help and Review

About This Chapter

The Demand, Supply and Market Equilibrium chapter of this College-Level Principles of Macroeconomics Help and Review course is the simplest way to master demand, supply and market equilibrium. This chapter uses simple and fun videos that are about five minutes long plus lesson quizzes and a chapter exam to ensure students learn the essentials of the topic.

Who's it for?

Anyone who needs help learning or mastering college economics material will benefit from taking this course. There is no faster or easier way to learn the subject. Among those who would benefit are:

  • Students who have fallen behind in understanding market demand schedules or working with a market supply schedule
  • Students who struggle with learning disabilities or learning differences, including autism and ADHD
  • Students who prefer multiple ways of learning business topics (visual or auditory)
  • Students who have missed class time and need to catch up
  • Students who need an efficient way to learn about demand, supply and market equilibrium
  • Students who struggle to understand their teachers
  • Students who attend schools without extra business learning resources

How it works:

  • Find videos in our course that cover what you need to learn or review.
  • Press play and watch the video lesson.
  • Refer to the video transcripts to reinforce your learning.
  • Test your understanding of each lesson with short quizzes.
  • Verify you're ready by completing the Demand, Supply and Market Equilibrium chapter exam.

Why it works:

  • Study Efficiently: Skip what you know, review what you don't.
  • Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
  • Be Ready on Test Day: Use the Demand, Supply and Market Equilibrium chapter exam to be prepared.
  • Get Extra Support: Ask our subject-matter experts any demand, supply and market equilibrium question. They're here to help!
  • Study With Flexibility: Watch videos on any Web-ready device.

Students will review:

This chapter helps students review the concepts in a Demand, Supply and Market Equilibrium unit of a standard college-level principles of macroeconomics course. Topics covered include:

  • Market demand schedule
  • Market supply schedule
  • Law of downward-sloping demand curve
  • Upward-sloping supply curve
  • Market equilibrium calculation

22 Lessons in Chapter 3: Demand, Supply and Market Equilibrium: Help and Review
Test your knowledge with a 30-question chapter practice test
Market Demand Schedule

1. Market Demand Schedule

Demand can often drive the cost up or down for a product or service. In this lesson, you'll discover what demand is, what it looks like, and how market demand schedules are created.

Market Supply Schedule

2. Market Supply Schedule

Supply and demand play big roles in the economy. In this lesson, you'll discover what supply is, how we describe it, and how market supply schedules are created.

The Law of the Downward Sloping Demand Curve

3. The Law of the Downward Sloping Demand Curve

Discover the relationship between the quantity demanded and price of a good or service in a market. This lesson explains why the demand curve is downward sloping and what factors will lead to a shift in demand.

The Upward-Sloping Supply Curve

4. The Upward-Sloping Supply Curve

Discover the relationship between the quantity of a good or service that is produced and its price. This lesson explains the supply side of a market, including the factors that lead to a shift in supply.

How to Calculate Market Equilibrium

5. How to Calculate Market Equilibrium

Supply and demand is an important part of macroeconomics. In this lesson, you'll learn how to calculate the equilibrium price and quantity in a market at the intersection of the supply and demand curves.

How Changes in Supply and Demand Affect Market Equilibrium

6. How Changes in Supply and Demand Affect Market Equilibrium

Learn how the equilibrium of a market changes when supply and demand curves increase and decrease and how different shifts in the curves can affect price.

Inferior Good in Economics: Definition & Examples

7. Inferior Good in Economics: Definition & Examples

Learn about inferior goods and discover how they differ from normal goods. See some everyday inferior goods that you may have in your apartment or house.

Calculating Equilibrium Price: Definition, Equation & Example

8. Calculating Equilibrium Price: Definition, Equation & Example

How is the market price determined? This lesson will explain what the market price is and also walk you through an example of determining the equilibrium price.

Equilibrium Price Flashcards

Equilibrium Price Flashcards

Market equilibrium depends largely upon supply and demand. These flashcards will define and demonstrate how the market price is both determined and brought into balance.

Market Equilibrium in Economics: Definition & Examples

10. Market Equilibrium in Economics: Definition & Examples

Market equilibrium is one of the most important concepts in the study of economics. In this lesson, you'll learn what market equilibrium is and how it is established, and you'll also be provided some examples. A short quiz follows the lesson.

Normal Good in Economics: Definition & Examples

11. Normal Good in Economics: Definition & Examples

Learn about the unique attributes of a normal good. When do you buy them, and what are some examples? Find out how your income plays a factor in the purchase of these goods, and explore some different scenarios to help clarify your understanding.

Supply Shock: Definition & Examples

12. Supply Shock: Definition & Examples

If a hurricane knocks out a few offshore oil rigs, you may see a run on gas stations because of a supply shock. In this lesson, you'll learn about what a supply shock is and be given some examples. A short quiz follows.

The Fallacy of Composition in Economics: Definition & Examples

13. The Fallacy of Composition in Economics: Definition & Examples

Learn what the fallacy of composition is and why this type of reasoning can lead to the wrong conclusions in a variety of economic situations. Find out how your ability to save money as compared to the country as a whole is a great example of this fallacy.

The Income Effect in Economics: Definition & Example

14. The Income Effect in Economics: Definition & Example

In this lesson, you'll learn about income effect, or how changes in wages and prices affect your purchasing decisions. You'll also explore some real-life examples of income effect and their impact on our everyday lives.

The Market Supply Curve: Definition, Principles & Equation

15. The Market Supply Curve: Definition, Principles & Equation

Learn the purpose of the market supply curve and its underlying principles. Explore the primary focus of market supply curves and how to calculate the supply curves of individual firms.

The Market System in Economics: Definition, Characteristics & Advantages

16. The Market System in Economics: Definition, Characteristics & Advantages

There are areas of the world where the government controls everything. Others give the people freedom to choose. The type of economy is a major part of how a society runs. This lesson discusses a market economy and how it functions.

The Substitution Effect in Macroeconomics: Definition & Example

17. The Substitution Effect in Macroeconomics: Definition & Example

Learn what the substitution effect is and how it may affect your life every time you go to the grocery store. See some everyday examples of the substitution effect at work.

Theory of Constraints: Definition & Examples

18. Theory of Constraints: Definition & Examples

Improving output and productivity is a goal of manufacturing. This lesson will discuss the theory of constraints, a methodology used to improve production and profit. Examples will be discussed.

What is a Bull Market? - Definition & Meaning

19. What is a Bull Market? - Definition & Meaning

Did you know that a bull market is named as such because bulls attack their opponents by swinging their horns upward? Learn more about a bull market, its characteristics, and how it differs from a bear market. Then test your knowledge with a quiz.

Elasticity in Economics: Practice Problems

20. Elasticity in Economics: Practice Problems

Let's solve some elasticity problems. We will do one each for price elasticity, income elasticity and cross price elasticity. We will interpret what the answers mean at the end. All work will be shown and explained!

The Money Illusion: Definition & Examples

21. The Money Illusion: Definition & Examples

After this lesson, you'll never look at money the same! In fact, after reading this lesson you may find that you, too, have fallen into this trap called the money illusion, but we'll figure out how to get around that.

Capital Consumption Allowance (CCA): Definition & Formula

22. Capital Consumption Allowance (CCA): Definition & Formula

This lesson will define and explain the capital consumption allowance. It is an important measure in calculating whether a nation is increasing its capital stock which affects its standard of living.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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