Economics

Unit 1 | Topic 3.8 | Changes in Market Equilibrium

How do changes in supply and demand affect equilibrium?

Objectives

• Explain why a free market naturally tends to move toward equilibrium.

• Analyze how a market reacts to an increase or decrease in supply.

• Analyze how a market reacts to an increase or decrease in demand.

Procedure

1. Review the Aim and notes from your initial text read.

2. Participate in the corresponding lesson topic presentation, revising notes.

3. Watch corresponding video(s); further revising notes.

4. Complete teacher instructed assignments.

Extension

• Prepare for your next class session by reading the next topic section in your text, recording alphanumeric/Cornell notes.

• Complete the next topic's Interactive Reading Notepad.