Skip to content

Supply and Demand Short Modules

Supply and demand are among the most fundamental concepts in economics. An understanding of these topics helps explain the economic world in which we live. This series of short modules uses a fictitious chocolate market to help explain the essential concepts: demand, supply, and market equilibrium.

Demand

The law of demand describes the behavior of buyers. In general, people buy more of a good when its price is low than when its price is high. This short module uses a fictitious chocolate market to help you better understand the demand side of markets.

Supply

Prices for most goods and services are determined in markets by what economists call supply and demand. Both sides – demand and supply – are needed to determine prices. This short module uses a fictitious chocolate market to help students better understand the supply side of markets.

Market Equilibrium

So, is it supply or demand that determines the market price of a chocolate bar, or any other good or service, for that matter? The answer is "both." This module uses a fictitious chocolate market to help students better understand how supply and demand work together to determine prices.

Supply and Demand

Also view our online module Supply and Demand. This one complete online module encompasses all of the Supply and Demand Short Modules (Supply, Demand, and Market Equilibrium).

Search for Related Resources

Audience:   Consumers, High School, College
Language:   English
Subjects:   AP Economics, Economics
Resource Types:   Online Course/Module
Concepts:   Supply, Demand, Market Equilibrium