Standard(s):Define the law of supply and the law of demand.
b. Distinguish between supply and quantity supplied, and demand and quantity demanded
LT:Learning Target:I can explain how the law of demand, the law of supply, and prices work to determine production and distribution in a market economy.
SC:I can combine supply and demand to determine prices and quantity.
I can identify how changes in supply and demand affect equilibrium price and quantity.
Lesson/Activity: Equilibrium Price and Quantity Resources: Sidewalk Chalk |