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