This course provides an overview of the fundamental economic principles of supply and demand. It covers the basic concepts of supply and demand, how they interact in the market, and how they affect prices. It also examines the effects of government policies, such as taxes and subsidies, on the
In microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied such that an economic equilibrium is achieved for price and quantity transacted. The concept of supply and demand forms the theoretical basis of modern economics.