About This Chapter
Below is a sample breakdown of the Demand, Supply and Market Equilibrium chapter into a 5-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.
|Day||Topics||Key Terms and Concepts Covered|
|Monday||The market demand schedule||Economics, quantity demanded, effects of increases and decreases in price, illustrative table|
|Tuesday||The market supply schedule||Amount of good or service available, quantity supplied, price change effects|
|Wednesday||The law of the downward-sloping demand curve||Law of demand, substitution effect, demand change without price change, shifters|
|Thursday||The upward-sloping supply curve||Supply schedule, price of inputs, seller expectations, technology improvements, natural disasters|
|Friday||Calculating market equilibrium and how supply and demand changes affect market equilibrium||Intersection of supply and demand curves, surplus, shortage, left and right shifts, simultaneous supply and demand changes|
1. Market Demand Schedule
Demand can often drive the cost up or down for a product or service. In this lesson, you'll discover what demand is, what it looks like, and how market demand schedules are created.
2. Market Supply Schedule
Supply and demand play big roles in the economy. In this lesson, you'll discover what supply is, how we describe it, and how market supply schedules are created.
3. The Law of the Downward Sloping Demand Curve
Discover the relationship between the quantity demanded and price of a good or service in a market. This lesson explains why the demand curve is downward sloping and what factors will lead to a shift in demand.
4. The Upward-Sloping Supply Curve
Discover the relationship between the quantity of a good or service that is produced and its price. This lesson explains the supply side of a market, including the factors that lead to a shift in supply.
5. How to Calculate Market Equilibrium
Supply and demand is an important part of macroeconomics. In this lesson, you'll learn how to calculate the equilibrium price and quantity in a market at the intersection of the supply and demand curves.
6. How Changes in Supply and Demand Affect Market Equilibrium
Learn how the equilibrium of a market changes when supply and demand curves increase and decrease and how different shifts in the curves can affect price.
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Other chapters within the Macroeconomics Syllabus Resource & Lesson Plans course
- Scarcity & Production Possibilities Curve Lesson Plans
- Comparative Advantage & Specialization Lesson Plans
- Measuring the Economy Lesson Plans
- Economic Growth and Productivity Lesson Plans
- Inflation Measurement and Adjustment Lesson Plans
- Understanding Unemployment Lesson Plans
- Aggregate Demand and Supply Lesson Plans
- Macroeconomic Equilibrium Lesson Plans
- Inflation and Unemployment Lesson Plans
- Money, Banking and Financial Markets Lesson Plans
- Central Bank and the Money Supply Lesson Plans
- Fiscal and Monetary Policies Lesson Plans
- Foreign Exchange and the Balance of Payments Lesson Plans
- Inflows, Outflows, and Restrictions Lesson Plans