Supply and Demand

Understand how prices are set.

General curriculum — a grade-specific version for Grade 3 is in development.

What is supply

Describe supply.

What is demand

Describe demand.

The law of supply

Describe the law of supply.

The law of demand

Describe the law of demand.

Equilibrium price

Describe market equilibrium.

Changes in supply

Describe factors that change supply.

Changes in demand

Describe factors that change demand.

Surpluses and shortages

Describe surpluses and shortages.

Prices in real life

Apply supply and demand to real situations.

Supply and demand review

Apply supply and demand concepts.