Interactive Supply & Demand Graph

Demand Curve

Supply Curve

Equilibrium

Current Price

Equilibrium

The market is at equilibrium where supply equals demand. At this price, the quantity buyers want to purchase equals the quantity sellers want to sell.

Market Controls

Demand Shift (Consumer Preferences)

Supply Shift (Production Costs)

Set Market Price

$50

Scenarios

Market Statistics

Equilibrium Price

$50

Equilibrium Qty

Surplus

Shortage

Move the price slider on either card - both prices change together so you can compare!

💧

Water

Necessity - Inelastic

Price

Cheap Expensive

Students still want it:

10/10

⭐

Stickers

Want - Elastic

Price

Cheap Expensive

Students still want it:

10/10

💧 Water

⭐ Stickers

What is Elasticity?

Elasticity measures how sensitive quantity demanded is when price changes. Some things we need no matter the price, while other things we'll skip if they get too expensive.

💧 Inelastic Demand

Price changes, but quantity demanded changes only a little.

Necessities (water, medicine, gas)
No good substitutes available
People NEED it regardless of price

⭐ Elastic Demand

Price changes, and quantity demanded changes A LOT.

Luxuries (stickers, candy, toys)
Many substitutes available
People can easily do without it

Supply & Demand Economics

Equilibrium

Market Controls

Scenarios

Market Statistics

What is Elasticity?

💧 Inelastic Demand

⭐ Elastic Demand