**Content Statements Addressed**

- E CS 5, E CS 6
- Four weeks of instruction

**Essential Question**

**Learning Targets**

- Define supply, demand, price, equilibrium, shortage, surplus
- Analyze the relationship between price and quantity when a ceiling or floor is implemented
- Explain how elasticity of products effects pricing
- Explain what changing competition effects price and quality of goods and services
- Predict the effects on price from shortages and surpluses in the market
- Graph supply and demand to determine an equilibrium price and quantity

**Learning Strategies**

- Find definitions for the vocabulary terms of the unit
- Construct a supply and demand graph, labeling each axis and curve as well as equilibrium
- Complete graphing packet demonstrating shifts in supply and demand
- Interpret elasticity of a good or service by looking at the slope of the demand curve
- Calculate the total receipts test in order to determine price elasticity

*Emergent:*

- Pull data from a supply and demand schedule to create a supply and demand graph

*Advanced:*

- Solve for elasticity

**Assessment Evidence**

Supply and Demand Graphs

Chapter Quizzes

Unit Test

**Vocabulary**

- Equilibrium –
- Supply –
- Demand –
- Elasticity –
- Shortage –
- Surplus –

**Resources**

Critical Thinking S/D

Packet 7 – S/D Practice

Advertising Activity