A common error new economic students make is confusing changes in supply with changes in quantity supplied. A change in quantity supplied is a movement along the supply curve in response to a change in price. A change in supply is a shift of the entire supply curve in response to something besides price.

Previously we looked at what happens to the equilibrium price and quantity in a market if supply or demand change. In this video, we explore what happens when BOTH supply and demand are changing at the same time.

In this video, we explore how changes in a few factors affect the demand curve. Changes in income, population, and consumer preferences cause the entire demand curve to shift. Created by Sal Khan.

Changes in the supply of labor have an effect on the wage rate. The supply of labor shifts when there are changes in the population, changes in preferences and social norms, and changes in wage rates and opportunities in other markets. Learn how to show the effects of changes in labor supply on wage rates in this video.

When supply or demand change, the price and quantity in the market changes. See how a change in demand or supply affects price and quantity in this video. Created by Sal Khan.

Economists who studied the relationship between inflation and unemployment made an important modification to the Phillips curve model with the addition of the long-run Phillips curve (LRPC). When expectations are factored in, and there is enough time to adjust, the Phillips curve is vertical. Explore why in this video.

In this video, learn about how several scenarios affect the aggregate production function and economic growth.

John Dickerson shares his views on how the presidency has changed over time with Sal. John Dickerson is co-host of CBS This Morning. He was previously CBS News' Chief Washington Correspondent, Political Director and anchor of Face The Nation. Dickerson is also a contributor to Slate's Political Gabfest and to The Atlantic. During the 2016 presidential campaign, Dickerson moderated CBS News' two presidential debates. Prior to CBS, Dickerson was Slate Magazine's Chief Political correspondent and covered politics for twelve years for Time magazine.

Autarky describes a situation when countries are completely closed to trade. In this video, we explore what happens to the domestic price of a good, consumer surplus, and producer surplus, when an autarkic country opens to trade.

Learn about several of the pre-Columbian civilizations that emerged around the Andes in and near modern-day Peru.

An overview of the truly Imperial Chinese Dynasties including the Qin, Han, Sui, Tang, Song, Yuan, Ming and Qing. Discussion of innovations during Tang and Song China.

Kinematic equations help solve for an unknown in a problem when an object has either a constant velocity or constant acceleration. This video will help you choose which kinematic equations you should use, given the type of problem you're working through.