Answers Key for Questions 1–6 . 7. 1. Market equilibrium Demand and supply shifts and equilibrium prices The Demand Curve 2 The demand curve… Graphically shows how much of a good consumers are The amount (quantity) of Ipads supplied. (Watch out for Complementary Goods/Substitute Goods.) Quiz Market_Demand_Supply.pdf. Label each one as either a supply or demand curve. Just like demand, supply can also be shown in a chart and graph. (Do Supply Icebreaker. Identify a competitive equilibrium of demand and supply. 5. Examine the graphs below. The quiz can be downloaded here (in pdf format) along with a quiz with answers included. Have your students practice drawing their Demand and Supply Graphs by analyzing one of the (5) shifter rules for Demand and Supply. Practice Questions and Answers from Lesson I -4: Demand and Supply The following questions practice these skills: Describe when demand or supply increases (shifts right) or decreases (shifts left). Quiz with answers Market_Demand_Supply_Key.pdf Instruction time for this lesson: 75 minutes 4. Thursday, October 9 - Determinants of Demand (Day 2) (Assignment: Reasons for shifts in Demand Curves. Highlight the curves that are the most elastic of the two supply curves and the most elastic of the two demand curves. Product to Graph Event Graph Showing the (List the Letter from the note page.) Why is supply upward sloping? Demand and Supply Review 1. This lesson worksheet / quiz provides multiple choice, short answer and fill in the blank questions covering market demand and supply and changes in market equilibrium prices? The . The Supply Curve The Demand Curve The Equilibrium Point Highlight and label the areas where Surpluses and Shortages occur. Supply shifter: change in technology N: Congress Passes new “Sugar tax” Sugar the supply curve shifts to the left, or decreases. Quantity Demanded Apply the supply and demand principle to real life examples. Kids must draw a Demand and Supply graph at equilibrium, label it appropriately, then determine what will shift (either demand or supply… Identify the difference between a change in demand and a change in quantity demanded. Basic Market Changes in Supply and Demand or Quantity Supplied and Demanded (Assume Ceteris Paribus.) Cars the supply curve shifts to the right, or increases. states that the price of a good or service varies inversely, or negatively with the quantity demanded. Supply Schedule for Ipads Price for one Ipad. \$400 10 = is the amount the business (Apple) will be willing to make and supply. Assignment 2: Changes in Demand and Quantity Demanded Worksheet. Supply and Demand Worksheet NAME: _____ 1. Define Supply and the Law of Supply. 3. Create a demand graph using the following table of values: PRICE QUANTITY 10 500 20 450 30 400 40 350 50 300 60 250 70 200 2. Define Demand and the Law of Demand. Identify the Shifters of Demand. Graph each the following demand/supply schedules on one demand graph and then answer the questions below: Price Per Compact Disc. (Show only the First Change.) Supply and Demand Infographic Supplemental Activity . Friday, October 10 - Demand Quiz, then Intro to Supply. Go over if time. This means that when price increases the quantity demanded Describe the equilibrium shifts when demand or supply increases or decreases. (Assume a market exists.) Go over worksheet. Explain your logic and tell the result. law of demand. Identify the three concepts that explain why demand is downward sloping. NSS-EC.9-12.8 Supply and Demand Student Learning Objectives: As a result of this lesson, the student will … 1. Homework (if time): Smoking Demand Case Study.) 2. 6. Create a supply graph using the following table of values: PRICE QUANTITY 10 200 20 250 30 300 40 350 50 400 60 450 70 500 3. Combining Supply and Demand Scenario: The following shows a demand and supply schedule listing CDs demanded and supplied (in the millions) per week at each price. Th d d The demand curve The supply curve Factors causing shifts of the demand curve and shifts of the supply curve. 1 Supply and Demand Lecture 3 outline (note, this is Chapter 4 in the text). Define and explain supply and demand. 2. Below is a supply curve schedule for Ipads and supply curve graph. 1.

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