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    Supply, Demand and Prices


     

    Overarching Question:

     

    How do supply, demand and prices effect economic behavior? 

     

    Previous Unit:

     

    Consumerism, Debt,

    Investment, and Finance

     

     

    This Unit:

     

    Supply, Demand and Prices

     

    Next Unit:

     

    Market Structure,

    Business Organizations and

    Labor

     

     

     

     


     

     

     

    Questions to Focus Assessment and Instruction:

     

    1. Justify changes in the law supply by plotting a graph to show how the factors of production, substitutes, and the impact of sellers have on the market

    2. Justify changes in the law of demand by plotting a graph to show the impact of alternative goods and services, changes in number of buyers and changes in income and credit

    3. Plot a graph and interpret the effect supply/demand elasticity has on the equilibrium price, and how incentives affect the behavior of households and economic organizations

     

    Vocabulary:
    law of supply
    profit
    opportunities
    goods
    services
    sellers
    market
    law of demand
    change in demand
    buyers
    equillibrium
    price
    elasticity
    incentives
    monetary
    economic organizations

     

Last Modified on February 14, 2018