Changes in Supply and Demand

Questions for Discussion:

Do you want and buy the same clothes/music you did 3 years ago?

What changed for you?

Questions You Will be Able to Answer at The End of Lesson:

What factors cause changes in demand in markets?

What factors cause changes in supply in markets?

How do supply and demand graphs shift based on changes in demand/supply? (page 86)

Additional Practice and Review (you will need to do some research on current events):

  1. In terms of supply and demand for gasoline/diesel powered vehicles, how do you anticipate the demand curve shifting?
  2. In terms of demand and supply for smartwatch market in which direction is the supply line moving
  3. On a small freehand graph illustrate your answers.

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