Core-003 Market Equilibrium
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About Core-003 Market Equilibrium
About the Teacher
Jay Moulton
Jay Moulton is a business veteran. In short:
- Corporate finance and turnaround expert in U.S. and Canada
- CEO or operator of numerous companies in many industries
- 30 years of actually applying business economics principles
- Successfully led and invested in several leveraged buyouts
- Director or advisor to 30+ different companies
- Experience in both for-profit and not-for-profit sectors
- Producer of 700 professional videos and several TV shows
- Author of six economics and business strategy books
- Graduate of Harvard Business School MBA program
- Graduate of The Royal Military College of Canada
- Professional electrical engineer
- Governor of the Harvard Club of British Columbia
Market Forces - Equilibrium
MODULE 1
This module reviews how market equilibrium occurs.
Market Equilibrium
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In a free market, all other things being equal, price acts as a control to balance supply and demand for goods.
If demand for a good increases, the demand curve shifts right. If there has been no change in supply, the equilibrium price rises. If demand for a good decreases, the demand curve shifts to the left.
A decrease in supply means that the supply curve shifts to the left. If there has been no change in demand, the equilibrium price rises. An increase in supply means that the supply curve shifts to the right.
Both the supply and demand curve shift to the right. The new equilibrium price can either increase, decrease, or remain the same, depending on curve shape and how much each curve shifts.
Both the supply and demand curve shift to the left. The new equilibrium price can either increase, decrease, or remain the same depending on curve shape and how much each curve shifts.
The demand curve shifts to the left. The supply curve shifts to the right. The new equilibrium price falls.
The demand curve shifts to the right. The supply curve shifts to the left. The new equilibrium price rises.
A summary compilation of all the market equilibrium videos.
Case Study - Green Space and Equilibrium
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In this lesson, you will learn to: Describe the concept of opportunity costs using the examples of guns and butter.
The video explains that in a situation where the supply curve is inelastic, the equilibrium price is determined on the demand side. Accordingly, since the land surrounding a green space has many alternative uses, it also has a high opportunity cost.
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