Supply & Demand

1,251 views

Published on

Chapter 2 - B

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,251
On SlideShare
0
From Embeds
0
Number of Embeds
388
Actions
Shares
0
Downloads
23
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Supply & Demand

  1. 1. Understanding Economy<br />
  2. 2. What is Price?<br />Price – is the amount of money given or asked for when goods and services are bought or sold.<br />
  3. 3. Supply<br />Supply – the amount of goods and services that producers will provide at various prices.<br />Then sellers are willing to supply more of that good or service<br />If consumers are willing to pay more for a good or service<br />
  4. 4. Demand<br />Demand – is the amount or quantity of goods and services that consumers are willing to buy at various prices.<br />Consumers are willing to consume more of a good or service at a lower price<br />
  5. 5. Equilibrium Price<br />Equilibrium Point/Price – is the point at which the quantity demanded and the quantity supplied meet.<br />
  6. 6. The Lemonade Stand<br />Ms. Mahoney’s final profit = $107.45!<br />How well can you balance supply and demand?<br />http://www.primarygames.com/socstudies/lemonade/start.htm<br />

×