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Chemistry LibreTexts

5.19: Outcome: Equilibrium

  • Page ID
    249279
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    What you’ll learn to do: explain and graphically illustrate market equilibrium, surplus, and shortage

    In this section, you’ll learn how supply and demand interact to determine the price in a market.

    The specific things you’ll learn in this section include the following:

    • Define and explain equilibrium price and quantity
    • Create a graph that illustrates equilibrium price and quantity
    • Define and explain surpluses and shortages
    • Create a graph that illustrates surpluses and shortages
    • Describe how disequilibrium can create surpluses and shortages; explain how markets eliminate them

    Learning Activities

    The learning activities for this section include the following:

    • Reading: Equilibrium, Surplus, and Shortage
    • Video: Market Equilibrium
    • Reading: Changes in Equilibrium
    • Worked Example: Supply and Demand
    • Simulation: Food Trucks and Changes in Equilibrium
    • Self Check: Equilibrium
    CC licensed content, Original
    • Outcome: Equilibrium. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution

    5.19: Outcome: Equilibrium is shared under a not declared license and was authored, remixed, and/or curated by LibreTexts.

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