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Laws of Supply and Demand


Laws of Supply and Demand

Laws of Supply and Demand

Learn more about the laws of supply and demand.


Students: 1,089
Course Description

Supply and demand in a market economy is one the most fundamental concepts in economics. Demand refers to the quantity of a product or service that is demanded by consumers.
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Supply refers to how much of the product or service the market can offer. The price of a good or service is greatly influenced by supply and demand and will usually settle at a point where the quantity demanded by consumers will equal the quantity supplied by producers. This free online economics course will review in detail the laws of supply and demand, how they operate in a market economy and how they determine the price of goods and services. The course outlines factors that affect both supply and demand, and how there is an in-built price elasticity within supply and demand for goods or services. This free online economics course will be of great interest to all professionals in the areas of economics, finance, business and politics who would like to learn more about how the price of goods and services is determined, and to all learners who would like a greater understanding of the fundamental laws of supply and demand.

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Certification

To qualify for your official ALISON Diploma, Certificate or PDF you must study and complete all modules and score 80% or more in each of the course assessments. A link to your Diploma certificate will then appear under the My Certificates heading of your My Account page.

Learning Outcomes

Learning outcomes: - Understand the concept behind supply and demand; - Explain how supply and demand operate within a market economy; - Explain how price of a good or service is determined by supply and demand;


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Module Title
Module 1: Understanding the Laws of Supply and Demand
Module 2: Laws of Supply and Demand Assessment

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Background  
Course Rating (By Learners)
Course Title Laws of Supply and Demand
Course # 566
Course Publisher Khan Academy
Course Category 2
Content Origin
Course Description  Supply and demand in a market economy is one the most fundamental concepts in economics. Demand refers to the quantity of a product or service that is demanded by consumers. Supply refers to how much of the product or service the market can offer. The price of a good or service is greatly influenced by supply and demand and will usually settle at a point where the quantity demanded by consumers will equal the quantity supplied by producers. This free online economics course will review in detail the laws of supply and demand, how they operate in a market economy and how they determine the price of goods and services. The course outlines factors that affect both supply and demand, and how there is an in-built price elasticity within supply and demand for goods or services. This free online economics course will be of great interest to all professionals in the areas of economics, finance, business and politics who would like to learn more about how the price of goods and services is determined, and to all learners who would like a greater understanding of the fundamental laws of supply and demand.
License  This course is available from Khan Academy OpenCourseWare through the following Creative Commons licence:
Creative Commons License
Release Date 03 December 2012
   
Content  
Course Duration (Avg Learner) 1-2 Hours
Video/Audio High
Audio Only High
Animation None
Assessments Yes
 
Education Level
Age appropriateness 18+ Years
Minimum Grade/Class Level Higher High Secondary School
 
Validation Level 5
ALISON Testing Yes
Certification Availability
PDF Download Yes
Parchment Yes
Framed Certification Yes
   
Merchandise Availability
Marketing Information
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Course Forum  View

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  • Siva Kumar United Arab Emirates I enjoyed the course, I believe I have learnt a lot from this course. The instruction style is great, very natural and at the correct pace for me. Thanks a lot! 2014-12-10 21:12:47
  • Mululi Ronald Uganda its realy nice 2014-09-01 21:09:20
  • Audrey Gordon South Africa I really enjoyed it and I understand it a lot better now, especially after the assessment 2014-08-26 15:08:38
  • Sibusiso Hendry Malindzisa Swaziland Course Module: Module 1: Understanding the Laws of Supply and Demand
    Course Topic: Law of Supply
    Comment: law of supply interesting. 2013-02-22 14:02:30
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Free, Online Laws of Supply and Demand Course.