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Ch 3: Demand, Supply and Market Equilibrium: Tutoring Solution

About This Chapter

The Demand, Supply and Market Equilibrium chapter of this College Macroeconomics Tutoring Solution is a flexible and affordable path to learning about demand, supply and market equilibrium. These simple and fun video lessons are each about five minutes long and they teach all of the demand, supply and market equilibrium operations required in a typical college macroeconomics course.

How it works:

  • Begin your assignment or other macroeconomics work.
  • Identify the demand, supply and market equilibrium concepts that you're stuck on.
  • Find fun videos on the topics you need to understand.
  • Press play, watch and learn!
  • Complete the quizzes to test your understanding.
  • As needed, submit a question to one of our instructors for personalized support.

Who's it for?

This chapter of our college macroeconomics tutoring solution will benefit any student who is trying to learn about demand, supply and market equilibrium and earn better grades. This resource can help students including those who:

  • Struggle with understanding market demand and supply schedules, downward sloping demand curves, supply curves, market equilibrium or any other demand, supply and market equilibrium topic
  • Have limited time for studying
  • Want a cost effective way to supplement their economics learning
  • Prefer learning economics visually
  • Find themselves failing or close to failing their demand, supply and market equilibrium unit
  • Cope with ADD or ADHD
  • Want to get ahead in macroeconomics
  • Don't have access to their economics teacher outside of class

Why it works:

  • Engaging Tutors: We make learning about demand, supply and market equilibrium simple and fun.
  • Cost Efficient: For less than 20% of the cost of a private tutor, you'll have unlimited access 24/7.
  • Consistent High Quality: Unlike a live economics tutor, these video lessons are thoroughly reviewed.
  • Convenient: Imagine a tutor as portable as your laptop, tablet or smartphone. Learn about demand, supply and market equilibrium on the go!
  • Learn at Your Pace: You can pause and rewatch lessons as often as you'd like, until you master the material.

Learning Objectives

  • Explain the purpose of a market demand schedule.
  • Understand what the market supply schedule represents.
  • Provide examples that show why demand curves are downward sloping.
  • Use examples to explain why supply curves are upward sloping.
  • Calculate market equilibrium.
  • Describe how market equilibrium is affected by changes in supply and demand.

8 Lessons in Chapter 3: Demand, Supply and Market Equilibrium: Tutoring Solution
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.

The Elasticity of Demand: Definition, Formula & Examples

7. The Elasticity of Demand: Definition, Formula & Examples

Do people buy more when prices drop? How much more do they buy? These questions can be answered by evaluating a good's elasticity of demand, which is defined and illustrated in this lesson with a few examples.

Supply in Economics: Definition & Factors

8. Supply in Economics: Definition & Factors

You will be introduced to one of the main concepts in economics: supply. Have you ever considered how a producer determines how much of a product to supply? Learn what factors change the supply and how suppliers react to changes in market price.

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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