Lesson 5: Supply, Demand, and Market Equilibrium
Duration of Days: 4
Lesson Objective
Students will analyze how shifts in supply and demand affect equilibrium price and quantity.
What factors shift demand and supply curves?
How do these shifts change market equilibrium?
C3: D2.Eco.8.9-12 (Evaluate the effectiveness of voluntary exchange)
CCSS: RH.11-12.7, WHST.11-12.1 (Use charts and write arguments)
Students graph supply and demand, identify determinants that cause shifts, and predict new equilibria. They consider real-world applications like price controls or external shocks.
Scaffolded practice with single shifts before moving to double shifts
Use real-life examples (e.g., seasonal products)
Offer enrichment tasks on policy interventions (e.g., subsidies, taxes)
Market-analysis task where students graph a supply/demand scenario and explain the outcome