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Market Equilibrium

The basic tool that economist use to analyze how changes in economic events, e.g., raising the drinking age, increasing the gasoline tax, affect the market for the impacted good or service. Each market is comprised of both producers, those offering (supplying) the good, and consumers, those who buy (demand) the good. These tutorials should assist you in better understanding how Supply and Demand interact to determine the market equilibrium price and quantity.

Below are a number of links to both white board presentations from the Khan Academy concerning Market Equilibrium:

  • Market Equilibrium
  • Changes in Market Equilibrium

  • and video lectures:

  • Market Equilibrium
  • Solving for Equilibrium
  • Comparative Statistics Part 1
  • Comparative Statics Part 2
  • Comparative Statics Part 3