unigo_skin
© 2014 Shmoop University, Inc. All rights reserved.
 

Intro

Supply & Demand. It's a simple enough graph, basically just two lines crossing in the shape of an X. But that humble graph of supply and demand curves is really an elegant and powerful tool for economic analysis. This is the place where you can learn how to make it work for you.

Read on for our breakdown of many of economics' core concepts: the law of demand, substitution goods and complementary goods, price elasticity of demand, the equilibrium price, monopolies, and more.

Only have a minute? Read our Supply & Demand Overview

Our Ph.D.s scoured the Web (so you don't have to).

We've got a lotta' links: video, music, websites, photos... you get the drift.

  • What are substitution goods?
  • What are complementary goods?
  • What factors influence supply?
  • What is the "equilibrium price?"

So, you think it's easy to make the big decisions? Take your turn in the hot seat.

The situation: You've invented a sizzling new product. But do you have the chops to make your company catch fire?

Love Us? Hate Us? Date Us?

Economics Beta Testers: take our survey

Advertisement
Advertisement
back to top