Ch 39: MTEL Business: Supply & Demand in Microeconomics

About This Chapter

As part of our MTEL Business preparation course, this Supply & Demand in Microeconomics chapter will help you succeed on your exam. Review key concepts through informative video lessons related to supply and demand in microeconomics.

MTEL Business: Supply & Demand in Microeconomics - Chapter Summary

In this chapter, you'll find much of what you need to know about supply and demand in microeconomics to help you succeed on the MTEL Business examination. We have lessons on basic concepts and will gradually introduce you to more advanced principles. When you reach the end of this course, you'll be able to answer exam questions related to:

  • The demand curve and the supply curve
  • Changes in supply and demand
  • Market equilibrium
  • Microeconomic shifts
  • Manipulation of market forces and how they affect supply and demand
  • Price elasticity's effect on supply and demand

Expert instructors will lead you through these concepts and much more to help you prepare for the exam. Our videos come with video tags which allow for efficient interactivity and let you focus on the areas you may be struggling with. Take the chapter's short quizzes to make sure you understand supply and demand in microeconomics.

7 Lessons in Chapter 39: MTEL Business: Supply & Demand in Microeconomics
Test your knowledge with a 30-question chapter practice test
Understanding the Demand Curve in Microeconomics

1. 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.

The Supply Curve in Microeconomics

2. The Supply Curve in Microeconomics

Learn about the supply curve and its unique characteristics. Find out some of the common terms used when discussing the supply curve and the difference between a movement along a supply curve and a shift of the entire curve. See some examples of each.

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.

Using Market Forces to Manipulate Supply and Demand

6. Using Market Forces to Manipulate Supply and Demand

While the forces of supply and demand are powerful, they are not immobile. This lesson explains how various market forces can cause the supply and demand curves to shift.

Price Elasticity: Understanding Supply and Demand

7. Price Elasticity: Understanding Supply and Demand

Marketing managers need to understand the basics of supply and demand in order to develop the precise price for their product. Inelastic and elastic demand explains how sensitive consumers are to price and how much flexibility it allows the marketing team.

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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Other Chapters

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