Supply and Demand: Finding Market Balance
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Objective
I can analyze how shifts in supply and demand curves affect market equilibrium.
Part 1 of 4
Warm-up video
Jacob Clifford · 4:50
We don't generate video — this one is by Jacob Clifford on YouTube. The practice questions and exit ticket below were drafted by AI for this objective, and every question is editable in the teacher guide.
Part 2 of 4
Key concepts
3 concepts
- 1
Equilibrium occurs where the quantity demanded exactly equals the quantity supplied.
- 2
There are 5 shifters of demand and 5 shifters of supply that cause the entire curve to move.
- 3
When new grilling technology increases the supply of hamburgers, the price will decrease and the quantity will increase.
Part 3 of 4
Practice
7 questions
Explain the difference between a movement along the demand curve and a shift of the demand curve. What causes each?
What are the five shifters of demand mentioned in the video?
Part 4 of 4
Exit ticket
Quick comprehension check
“Suppose there is a sudden increase in the cost of sugar, a key ingredient in soft drinks. Illustrate how this affects the market equilibrium for soft drinks, specifically stating whether supply or demand is affected, and whether it increases or decreases. Also, state how the price and quantity of soft drinks will change.”
Sample answer included in the free materials
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