Sign-up today to join over 5 million learners already on ALISON:

Laws of Supply and Demand Course


Laws of Supply and Demand
Laws of Supply and Demand

Learn more about the laws of supply and demand.


Join 1,507 other students.

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.

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;


Manage a Group of Learners

Share This Course!

 
Course Rating (By Learners): 4 stars based on 39 reviews
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: Post-Secondary
Validation: Level 5
ALISON Testing: Yes
Certification Availability
PDF Download: Yes
Parchment: Yes
Framed Certification: Yes

Study for Free at Your Own Pace! Start This Course

  • Flavio Tosti
    Flavio Tosti Belgium Gives a good step by step introduction. Explained in plain and simple English. The teacher is fun and dynamic. 2015-07-20 19:07:41
  • Lakshmanan Ct
    Lakshmanan Ct India Excellent course 2015-02-26 03:02:59
  • Siva Kumar
    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
    Mululi Ronald Uganda its realy nice 2014-09-01 21:09:20
  • Audrey Gordon
    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
    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
More Comments and Reviews >>

Study for Free at Your Own Pace! Start This Course

Free, Online Laws of Supply and Demand Course.