Supply and Demand: Finding Market Balance
Grade 12 · Social Studies · 39 min
What's Included
Learning Objective
I can analyze how shifts in supply and demand curves affect market equilibrium.
Warm-Up Video
Jacob Clifford · 4:50
Shifting Demand and Supply- Macro Topic 1.6 (Micro Topic 2.7)
Guided Notes
3 key 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.
Practice Questions
7 questions · Multiple choice & Short answer
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.”
Teacher Guide
Get the complete package:
- Answer keys for all questions
- Differentiation strategies
- Extension activities
- Printable student handouts
