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.
- Take the Demand online module.
- Teachers: Learn more about the Demand online module for teachers and students.
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.
- Take the Supply online module.
- Teachers: Learn more about the Supply online module for teachers and students.
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.
- Take the Market Equilibrium online module.
- Teachers: Learn more about the Market Equilibrium online module for teachers and students.
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).
- Take the Supply and Demand online module.
- Teachers: Learn more about the Supply and Demand online module for teachers and students.
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