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Economics · Micro

Supply & demand

The most useful model in economics: buyers and sellers meet at an equilibrium price. Learn what shifts each curve, how to solve for equilibrium, and what happens with price caps and floors.

30 min · 7 steps · videoJump to quiz ↓
1. Introduction and Supply & Demand MIT OpenCourseWare · 35 min
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Step 1 of 7 · Overview30 min read ·
Key idea
Prereqs: Scarcity & opportunity cost. Next: Elasticity. MIT 14.01 Lectures 2–3; Crash Course Economics #4; Marginal Revolution University.
Next: 1. Demand
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