What is the role of supply, demand and prices in a free market economy?
What factors can cause a product's demand to flucuate?
What factors determine a product's supply?
How can the structure of a market influence consumers' purchases?
Students will understand and explain how the law of supply works with in the United States economy.
Students will understand and explain how the law of demand works within the United States economy.
How does the law of supply work?
How does the law of demand work?
What is a price floor?
Students will identify and explain the positive and negative impacts of price ceilings.
What is a price ceiling?