Online College Courses for Credit

3 Tutorials that teach Supply and Demand Economics
Take your pick:
Supply and Demand Economics

Supply and Demand Economics

Author: Jeff Carroll

This lesson is an overview of supply and demand and economics markets. 

See More
Fast, Free College Credit

Developing Effective Teams

Let's Ride
*No strings attached. This college course is 100% free and is worth 1 semester credit.

29 Sophia partners guarantee credit transfer.

312 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 27 of Sophia’s online courses. Many different colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.


Source: Image of arrow, tablet computer, circle, square, images by Video Scribe, License held by Jeff Carroll; Image of euro, Public Domain,; Image of supply and demand graph, Public Domain,

Terms to Know
Equilibrium Price

The price at which quantity demanded and quantity supplied meet.

Market Price

The current price of a good or service which a customer is willing to pay.

Monopolistic Competition

An industry market structure characterized by a large number of firms selling similar products.


An industry market structure characterized by one firm supplying a unique product to the entire market. Barriers to entry prevent competition.


An industry market structure characterized by a few firms selling similar products.

Perfect Competition

An industry market structure characterized by a very large number of firms selling a homogeneous (identical) product.


When there is more demand for a product than supply.


When there is more supply of a product than demand.