Economic Equilibrium Worksheet
Intuitive Econ
167 Followers
Grade Levels
9th - 12th, Higher Education, Adult Education, Homeschool
Subjects
Resource Type
Formats Included
- PDF
Pages
1 page
Intuitive Econ
167 Followers
Description
This is a short exercise designed to get students comfortable with graphing supply and demand curves as well as to understand the concept of equilibrium price and quantity.
By the end of this activity students will be able to:
Graph a supply and demand curve given a supply and demand schedule
Identify the equilibrium price and quantity in a market
Identify whether a given price results in a surplus or shortage of a good
Identify whether a given price will exert upward or downward pressure on the price of a good
Explain why there is only one stable price and quantity combination in a market
By the end of this activity students will be able to:
Graph a supply and demand curve given a supply and demand schedule
Identify the equilibrium price and quantity in a market
Identify whether a given price results in a surplus or shortage of a good
Identify whether a given price will exert upward or downward pressure on the price of a good
Explain why there is only one stable price and quantity combination in a market
Total Pages
1 page
Answer Key
Included
Teaching Duration
30 minutes
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167 Followers
