Supply, Demand and Market Equilibrium: Free Course

About this course

Market outcomes involve both prices and the gains from exchange. This sequence examines demand, equilibrium changes, elasticity, surplus and the effects of taxes and price controls. Study the complete public source playlist from Khan Academy in English, with all 23 recordings available in the on-site classroom. Lessons retain their original titles and source order, including worked examples, introductions and repeated entries.

Course at a glance

What you’ll learn

• Interpret consumer surplus, producer surplus and deadweight loss.
• Compare elasticity measures and their effect on revenue.
• Analyze equilibrium changes with clearly labeled curves.
• Explain tax and price-control outcomes within the demonstrated models.

Skills you’ll gain

• Market equilibrium
• Elasticity
• Economic surplus
• Tax incidence

Course Overview

The source combines market diagrams with elasticity and welfare examples. Consumer and producer surplus translate the difference between willingness to pay, willingness to sell and the market price into areas on a graph. Demand and equilibrium examples examine how outcomes respond to changing conditions. Elasticity adds a proportional-response perspective, including midpoint calculations, cross-price effects and the relationship between demand elasticity and total revenue. Tax examples include limiting cases with perfectly elastic or perfectly inelastic demand. Rent control, minimum wages and other price-control examples then connect policy constraints with changed quantities and possible deadweight loss. The original source order is preserved, so learners already comfortable reading supply-and-demand diagrams can use the course as a focused applied sequence. Separate movements along a curve from shifts and explain the mechanism represented by each diagram.

How to study the course

• Videos 1–5: this part of the source list includes “Producer surplus” through “Demand Curve as Marginal Benefit Curve”. List the assumptions of the model. Keep a brief working note, revisit an unclear explanation and test one example before moving to another part of the material.
• Videos 6–11: this part of the source list includes “Changes in Market Equilibrium” through “Inferior goods clarificationx”. Identify the participants and incentives. Keep a brief working note, revisit an unclear explanation and test one example before moving to another part of the material.
• Videos 12–17: this part of the source list includes “Total revenue and elasticity” through “Minimum wage and price floors”. Compare outcomes after one defined change. Keep a brief working note, revisit an unclear explanation and test one example before moving to another part of the material.
• Videos 18–23: this part of the source list includes “Taxes and perfectly inelastic demand” through “Taxes and perfectly elastic demand”. Explain a mechanism before making a conclusion. Keep a brief working note, revisit an unclear explanation and test one example before moving to another part of the material.

Who is this for?

This course suits students and interested readers studying the named economic concepts. It also provides a recorded reference for revisiting a topic after an earlier lesson or study attempt. Choose examples appropriate to your background and allow time to work through the method instead of judging understanding only by how familiar the terminology sounds.

Before you start

Basic arithmetic and comfort interpreting a graph are useful. Follow the assumptions of each model rather than treating every simplified example as a real-world prediction.

Put the lessons into practice

Draw a fictional market and label price, quantity and surplus areas. Compare a tax with a binding price ceiling, stating what each change does to the feasible trades. Separately calculate midpoint demand elasticity from two observations and explain the associated revenue change. Identify the assumptions behind your diagram and avoid treating a simplified model as a complete policy evaluation.

This optional study activity is provided by WikiFree for independent practice. Keep your working notes and use the relevant classroom recording to check a step, definition or interpretation. It is not an instructor-marked assignment.

Certificate / Assessment

Watching the public videos and using WikiFree completion tracking does not award a certificate, academic credit, an examination voucher or instructor assessment. Use your practice output to review what you can explain and repeat independently. The recorded lessons provide study material; completion tracking records your progress through that material.

Frequently asked questions

Provider: Khan Academy. Videos play from the Khan Academy channel on YouTube.