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Economics : Supply & Demand
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Summary

Price
£19 inc VAT
Study method
Online, On Demand
Duration
0.9 hours · Self-paced
Qualification
No formal qualification
Certificates
  • Reed Courses Certificate of Completion - Free
Additional info
  • Tutor is available to students
3 students purchased this course

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Overview

Economics plays an essential role in shaping our understanding of how markets function. The study of supply and demand is at the heart of this discipline, as it reveals how resources are allocated in various sectors of the economy. The balance between supply and demand determines the prices of goods and services, influencing economic decisions at all levels. This course provides a comprehensive introduction to the fundamental principles of economics, with a particular focus on the supply and demand relationship, the forces that influence it, and how these elements contribute to pricing dynamics in markets.

This course aims to equip students with the foundational knowledge needed to navigate economic models, which are the backbone of many business and policy decisions. By exploring the circular flow model, students will gain insight into the interconnectedness of different market participants, from households and businesses to governments. In addition, the course covers elasticity, an important concept that explains how responsive supply and demand are to price changes. Through these key topics, learners will develop the analytical skills required to assess real-world market conditions and make informed decisions.

Learning Outcomes

By the end of this course, students will be able to:

  • Understand the basic principles of economics and the role of supply and demand in market systems.

  • Interpret the circular flow model and explain its relevance to different market participants.

  • Analyse the relationship between supply, demand, and pricing in various economic contexts.

  • Evaluate the concept of market equilibrium and identify factors that cause shifts in supply and demand.

  • Explain the concept of elasticity and its applications in real-world scenarios.

  • Apply economic models to assess market conditions and forecast changes in pricing.

  • Develop skills in using economic principles to inform business and policy decisions.

Certificates

Reed Courses Certificate of Completion

Digital certificate - Included

Will be downloadable when all lectures have been completed.

Curriculum

4
sections
4
lectures
0h 57m
total

Course media

Description

Those who strive to enhance their skills while preparing for a specific employment opportunity can consider the Economics course! This Economics course will keep you up to date on the most important amendments and will instruct you accordingly. So, if you want the best instruction available, you can put your money on this Economics course.

Here is the curriculum breakdown of this Economics course:

  • Module 01: A Primer on Economics
  • Module 02: The Circular Flow Model in Market Systems
  • Module 03: The Dynamics of Supply, Demand and Pricing
  • Module 04: Understanding Elasticity

Get Your Certificate

Once you complete the Economics course, you will be eligible to download a digital certificate from Reed for free.

Who is this course for?

Anyone interested or curious about Economics, can enrol in this Economics course to further understand the subject.

Requirements

There are no specific requirements for enrolment in the Economics course, making it accessible to all individuals.

Career path

This course will facilitate your path to pursuing a career in Economics, whether to upgrade or to start from zero. Express your knowledge, differentiate yourself from the competition, and excel!

Questions and answers

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Legal information

This course is advertised on Reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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