Competencies:
Understanding the Role of Producers and Consumers in a Market Economy
- 49: Describe the circular flow of economic activity.
Exploring the Price System
- 50: Examine the laws of supply and demand and the determinants of each.
- 51: Explain how the interaction of supply and demand determines equilibrium price.
- 52: Describe the elasticity of supply and demand.
- 53: Examine the purposes and implications of price ceilings and price floors.
Exploring the Many Factors That Affect Income
- 55: Describe how changes in supply and demand for goods and services affect a worker’s income.
Developing Consumer Skills
- 64: Examine basic economic concepts and their relation to product prices and consumer spending.
- 65: Examine the effect of supply and demand on wages and prices.
Class Materials:
- DE Econ Unit 4 Slide Show
- Unit 4 Reading Packet
- Unit 4 vocabulary
- Unit 4 Student Notes Packet
- Unit 4 Test Study Guide
- Unit 4 Review Jeopardy
- Test w/ vocabulary
- Test
- Vocabulary Quiz
Activities
- Supply and Demand Video
- Analyz Dem Supply Head worksheet and Headline PP DE Analyzing Headlines PP
- The Circular Flow of Economics and You
- VE A Market in Wheat SC
- Changes in Market Equilibrium
- Instruct 4 Duct tape supply and dem
- Price controls SC
- Foldable
- Inside of foldable foldable supply and demand page 2-
- Outside of foldable supply and demand
Should We Allow A Market for Transplant Organs?
- Organ Shortfall Fuels illicit Trade in Human Parts Article
- Kidney for Sale Article
- Need more help – Online resources with videos to stress Supply and Demand, give it a try
Video:
- Circular Flow Model
- Microeconomics: The Law of Demand and Supply
- Episode 13: Supply
- Video 2: Law of Supply
- Demand and Supply – EconMovies #4 Indiana Jones
- Elasticity and the Total Revenue Test
- Real World Effects of Minimum Wage
- Price Ceiling – Rent Control Example John Stossel