{"id":206,"date":"2010-09-28T09:54:27","date_gmt":"2010-09-28T15:54:27","guid":{"rendered":"http:\/\/opengecko.com\/economics\/supply-and-demand-interacting-the-equilibrium-price\/"},"modified":"2010-09-28T09:54:27","modified_gmt":"2010-09-28T15:54:27","slug":"supply-and-demand-interacting-the-equilibrium-price","status":"publish","type":"post","link":"https:\/\/opengecko.com\/geckoview\/economics\/supply-and-demand-interacting-the-equilibrium-price\/","title":{"rendered":"Supply and Demand Interacting – The Equilibrium Price"},"content":{"rendered":"

Understand Demand<\/a>? Understand Supply<\/a>? Now we need both hands to clap, and when we put them together we can understand how prices are arrived at when market forces are left to their own devices (and also when they\u2019re not). What Adam Smith called the invisible hand \u2026 you need to know this concept like the back of your own (not so invisible) hand.<\/p>\n

\"Crystal<\/a>Quite a lot of video tutorials on this fundamentally important economic concept.<\/p>\n

Probably the best way to start (again) \u2013 take it away mjmfoodie<\/strong><\/a>:<\/p>\n

<\/param><\/param><\/param><\/embed><\/object> <\/p>\n

Perhaps more detailed, jodiecongirl<\/strong><\/a> tackles market equilibrium:<\/p>\n

<\/param><\/param><\/param><\/embed><\/object> <\/p>\n

But for an even deeper level of detail, here are two videos by richardmckenzie<\/strong><\/a> (note his tutorials are geared towards an MBA course!):<\/p>\n

<\/param><\/param><\/param><\/embed><\/object><\/p>\n

<\/param><\/param><\/param><\/embed><\/object><\/p>\n

 <\/p>\n

\"Crystal<\/a>http:\/\/www.whitenova.com\/thinkEconomics\/supply.html<\/a><\/p>\n

 <\/p>\n

\"Crystal<\/a>Now that you have hopefully grasped the fundamentals, it is worth checking your understanding further through these interactive tutorials:<\/p>\n

http:\/\/hadm.sph.sc.edu\/courses\/econ\/sd\/sd.html<\/a><\/p>\n

Notice that the above tutorial continues on to another page:<\/p>\n

http:\/\/hadm.sph.sc.edu\/courses\/econ\/sd\/SD3.html<\/a><\/p>\n

\"Crystal<\/a>There are two good podcasts publishes by Biz\/Ed which also include transcripts and possible questions:<\/p>\n

Biz\/ed \u2018In The News\u2019 podcast: Supply and Demand July 2007<\/a><\/p>\n

Biz\/ed \u2018In The News\u2019 podcast: Equilibrium January 2006<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Understand Demand? Understand Supply? Now we need both hands to clap, and when we put them together we can understand how prices are arrived at when market forces are left to their own devices (and also when they\u2019re not). What Adam Smith called the invisible hand \u2026 you need to know this concept like the…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,10,13,106],"tags":[40,42,120,135,39],"class_list":["post-206","post","type-post","status-publish","format-standard","hentry","category-economics","category-ib-economics","category-igcse-economics","category-microeconomics","tag-demand","tag-equilibrium-price","tag-market","tag-market-equilibrium","tag-supply"],"_links":{"self":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/comments?post=206"}],"version-history":[{"count":0,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/206\/revisions"}],"wp:attachment":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/media?parent=206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/categories?post=206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/tags?post=206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}