This lesson is a discussion of the basics of demand and supply for a principles of microeconomics course. Students will learn about the determinants of market demand and market supply for a good or service. It enables students to employ an analytical tool in expressing the potential impacts of changes in market conditions on the consumers and sellers of a good or service. It provides the basic tools to help students understand the impacts of policies that affect various economic units.
Community College / Lower Division, College / Upper Division