Objective
Students will be able to:
- Define supply, demand, law of demand, and equilibrium.
- Construct a supply and demand graph.
- Compute the equation of a linear demand curve.
- Compute the equation of a linear supply curve.
- Compute the intersection of the supply curve and demand curve (confirm the equilibrium price and quantity) using a system of equations.
In this personal finance lesson, students will learn supply and demand by utilizing a system of equations.
Resources
Procedure
Click NEARPOD VERSION: SYSTEMS OF EQUATIONS: SUPPLY AND DEMAND APPLICATION to access an interactive version of the lesson powered by Nearpod: students interact and respond to questions on their device, and teachers will see their responses in real time!