Market Equilibrium Interactive

This section introduces the core framework of microeconomics: the supply and demand model. It covers how markets reach equilibrium and how changes in market conditions affect prices and quantities. Market Equilibrium Interactive turns that idea into something you can manipulate directly and watch respond.

This section introduces the core framework of microeconomics: the supply and demand model. It covers how markets reach equilibrium and how changes in market conditions affect prices and quantities. It focuses on Law of Demand, Law of Supply, Market Equilibrium, Elasticity, Consumer and Producer Surplus from the “Supply, Demand, and Market Equilibrium” section.

The “Demand Shift 0”, “Supply Shift 0”, “Market Price 5.00” sliders change the key inputs; the “Find Equilibrium” button run actions or reset the demo. Every change updates the visualization in real time, so you can see exactly how each variable affects the outcome.

14.01 Principles of Microeconomics is an introductory undergraduate course at MIT that provides a foundational understanding of economic analysis. The course explores how individual economic agents—consumers and firms—m… This demo is the interactive piece for the “Supply, Demand, and Market Equilibrium” section. Open the full 14 01 Principles Of Microeconomics Fall 2018 course wiki at https://www.getlykke.com/explore/public/14-01-principles-of-microeconomics-fall-c9db27b0-c48b-44cd-b5ce-76fe7a34729f for notes, flashcards, quizzes and the other demos.

You'll build intuition for Law of Demand, Law of Supply, Market Equilibrium, Elasticity, Consumer and Producer Surplus — and, crucially, see how they behave when you change the inputs, which is hard to get from a textbook or lecture on 14 01 Principles Of Microeconomics Fall 2018 alone.