Market Equilibrium: Price and Quantity — PickAClass
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⏱ 2h 59m 📚 28 lessons 🎧 Audio version

Market Equilibrium: Price and Quantity

Understand how supply and demand interact to determine prices and quantities in competitive markets.

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About this course

Are you looking to understand the fundamental forces that drive prices and product availability in any market? This course breaks down the core principles of market equilibrium. You will gain a clear understanding of how the interplay between supply and demand leads to a stable market price and quantity, and how this balance can shift. Learn to analyze market dynamics and predict outcomes based on changes in economic conditions. What you'll learn: - Understand the basic concepts of supply and demand. - Define and identify equilibrium price and quantity. - Analyze how shifts in supply or demand affect market outcomes. - Practice calculating equilibrium points using simple models. - Grasp the concept of market clearing. - Explore factors that can cause disequilibrium. This course begins with foundational definitions and progresses to practical analysis of how equilibrium is reached and maintained. It is designed for beginners with no prior knowledge of economics. Start mastering the essentials of market economics today.

Course contents

7 modules · 28 lessons · 2h 59m

1 The Pillars: Supply and Demand Basics
Establish the foundational definitions of supply and demand curves. 5 lessons · 30 min
  1. What is a Market?
    A market is any place where buyers and sellers meet to exchange goods.    6 min
  2. The Law of Demand
    As price increases, the quantity demanded by consumers decreases.    6 min
  3. Visualizing the Demand Curve
    The demand curve slopes downward, representing consumer behavior.    6 min
  4. The Law of Supply
    As price increases, the quantity supplied by producers increases.    6 min
  5. Visualizing the Supply Curve
    The supply curve slopes upward, representing producer behavior.    6 min
2 Finding the Balance: Market Equilibrium
Define and identify the point where supply and demand meet. 4 lessons · 28 min
  1. The Intersection Point
    Equilibrium occurs where the supply and demand curves cross.    7 min
  2. Understanding Equilibrium Price
    The price at which quantity supplied equals quantity demanded.    7 min
  3. Understanding Equilibrium Quantity
    The total amount of goods bought and sold at the equilibrium price.    7 min
  4. The Concept of Market Clearing
    At equilibrium, there is no leftover stock and no unsatisfied customers.    7 min
3 Shifting the Balance: Demand Dynamics
Analyze how changes in consumer behavior affect the market. 4 lessons · 24 min
  1. What Causes a Demand Shift?
    Non-price factors move the entire demand curve left or right.    6 min
  2. When Demand Increases
    A rightward shift in demand leads to higher price and quantity.    6 min
  3. When Demand Decreases
    A leftward shift in demand leads to lower price and quantity.    6 min
  4. Determinants: Income and Tastes
    Changes in wealth or popularity directly impact market outcomes.    6 min
4 Shifting the Balance: Supply Dynamics
Analyze how changes in production conditions affect the market. 4 lessons · 24 min
  1. What Causes a Supply Shift?
    Changes in production costs or technology move the supply curve.    6 min
  2. When Supply Increases
    A rightward shift in supply leads to lower price and higher quantity.    6 min
  3. When Supply Decreases
    A leftward shift in supply leads to higher price and lower quantity.    6 min
  4. Predicting Outcomes: Supply Factors
    Analyzing how technology or input costs change market balance.    6 min
5 The Math of Markets: Calculating Equilibrium
Use simple algebraic models to find equilibrium points. 4 lessons · 28 min
  1. The Linear Equation Model
    Representing supply and demand as simple math equations.    7 min
  2. Solving for Price
    Setting Supply equal to Demand to find the equilibrium price.    7 min
  3. Solving for Quantity
    Plugging the price back into equations to find the quantity.    7 min
  4. Step-by-Step Calculation Practice
    A guided walkthrough of a full equilibrium calculation.    7 min
6 When Markets Fail: Disequilibrium
Explore why markets might not be in balance and how they recover. 4 lessons · 24 min
  1. Introduction to Disequilibrium
    Any situation where quantity supplied does not equal quantity demanded.    6 min
  2. Surplus: Too Much Stuff
    When the price is above equilibrium, leading to excess supply.    6 min
  3. Shortage: Not Enough Stuff
    When the price is below equilibrium, leading to excess demand.    6 min
  4. The Invisible Hand: Reaching Balance
    How price adjustments naturally push markets back to equilibrium.    6 min
7 Real-World Constraints and Summary
Understand external factors and synthesize course knowledge. 3 lessons · 21 min
  1. Price Ceilings
    Government-mandated maximum prices and their resulting shortages.    7 min
  2. Price Floors
    Government-mandated minimum prices and their resulting surpluses.    7 min
  3. Course Summary and Review
    Synthesizing supply, demand, and equilibrium into one big picture.    7 min
Final project

Market Analyst Report: The Coffee Crisis

You are given a scenario where a major frost hits coffee plantations while a new health study boosts coffee popularity. You must calculate the new equilibrium and explain the market dynamics.

What you'll get

  • 📜 Certificate of completion
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  • 💬 Personal AI tutor
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  • 🎧 Audio version included
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  • ♾️ Lifetime access
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  • 📱 Phone or computer
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  • 💸 14-day refund
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  • ⚡ Short & focused
    2h 59m of practical content

Certificate of completion

Every course you complete on PickAClass issues a credential like this — original, with its own code, verifiable by URL, and detailed about what was actually demonstrated.

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Certificate of Mastery
This certifies that
Name Surname
has successfully demonstrated mastery of
Market Equilibrium: Price and Quantity
Skills demonstrated
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Behavioral pattern analysis
Foundational
1.2 hrs
✓
Decision-architecture frameworks
Proficient
1.4 hrs
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A/B test design
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1.7 hrs
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1.9 hrs
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Market Equilibrium: Price and Quantity
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Performance detail
Coursework summary
Lessons completed 14 / 14
Practice questions 26 / 28
Assignments submitted 4 (avg 4.5 / 5)
Capstone project Reviewed — 4.6 / 5
Total practice 6.2 hrs
Performance benchmark
Cohort rank Top 12% of 1,625
Time to completion 11 days (median: 22)
Mastery score 91 / 100
Practice-question score 94%
Skill verification Verified Skill Path
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pickaclass.com/certificates/PCC-2026-X4F7-AP19
Issued under the academic standards of PickAClass. Skill levels reflect assessed performance against the course's competency rubric. This is an original credential of this platform.

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Yes — full refund within 14 days, no questions asked.

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