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