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Courses/Finance/Economics

Economics for Beginners: Buyers, Sellers & Product Pricing

The Easiest Beginner Level Course on Economics With Real Life Examples. Perfect for Newbies.

Created byShubham Kalra
4.1
(15 reviews)
BeginnerUpdated Aug 13, 2020
Economics for Beginners: Buyers, Sellers & Product Pricing

What You'll Learn

check_circleDefine key elasticity concepts.
check_circleCalculate price elasticity.
check_circleExplain income elasticity of demand.
check_circleUnderstand cross-price elasticity.
check_circleMeasure supply elasticity.

About This Course

Welcome to Economics for Beginners: Buyers, Sellers & Product Pricing. This course provides a foundational understanding of the key economic forces that govern markets and influence how prices are set and perceived.

Understanding how buyers and sellers react to changes in income, prices, and other factors is essential for grasping market dynamics. We delve into the crucial concept of elasticity, a vital measure of responsiveness in economic relationships.

In this course, you will explore:

  • Income elasticity of demand and its implications for classifying goods as normal or inferior.
  • Cross-price elasticity of demand, revealing the relationship between substitute and complementary goods.
  • Price elasticity of supply, examining how producers adjust output based on price fluctuations.
  • Methods for calculating and interpreting different types of elasticity.

By the end of this course, you will have a solid grasp of these fundamental economic principles, enabling you to better understand consumer and producer behavior and the factors that shape product pricing in real-world markets.

Your Instructor

Shubham Kalra
Shubham Kalra

Author and Online Economics Tutor

menu_book1 courses
star15 reviews

Shubham Kalra has a Major in Economics and has worked as a Business Analyst in one of the largest banking and financial services organisations in the world. He has done research projects in Education and Infrastructure Sector in India involving field work and analysis of data. He holds a diploma in Financial Planning and has good understanding of Risk Management concepts and Financial Instruments as well. He has been teaching since his college days in one way or another. It was in 2015, when he started teaching full time and has catered to students from 50 universities since then. His areas of specialisation include Economics, Statistics, Econometrics, Finance and Game theory.

Credit Information

Do these courses count toward my professional development requirements?

This portal is provided as a training and development resource for City of Markham employees. Every course is delivered by a qualified subject matter expert or learning organization, is quantifiable in hours, and is verifiable — you receive a documented certificate of completion for every course you finish, stored on LearnFormula indefinitely.

If you hold a professional designation (for example in engineering, accounting, human resources, or law), courses may be counted as professionally relevant, verifiable learning activities toward your continuing professional development. Individual practitioners are responsible for confirming that an activity meets the requirements of their professional body. For questions about the City of Markham's training and development policies, please speak with your people leader or Human Resources.

What Students Are Saying

4.1
Student's Choice
15 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.