Unit 2: Supply & Demand

1. I can use the law of demand to explain consumer behavior.

2. I can use the law of supply to explain producer behavior.

3. I can identify all the factors that lead to shifts demand.

4. I can identify all the factors that lead to shifts supply.

5. I can explain the determination of equilibrium prices by applying principles of supply and demand to markets for goods and services.

6. I can illustrate and explain the effect on price and quantity when supply or demand shifts in a market.

7. I can identify direct and indirect effects of price floors and ceilings.