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Ch 68: Demand, Supply & Market Equilibrium - ORELA Middle Grades Social Science

About This Chapter

Even if you're familiar with topics related to demand, supply and market equilibrium, you can utilize this chapter to get prepared for the ORELA Middle Grades Social Science examination. Video lessons and quizzes are included.

Demand, Supply and Market Equilibrium - ORELA Middle Grades Social Science - Chapter Summary

Study this chapter on demand, supply and market equilibrium if you want to increase your chances of passing the ORELA Middle Grades Social Science examination and earning a teaching certification in Oregon. Re-discover the ways in which supply and demand drive the economy. For instance, you can review the correlation between the demand for specific products and their rising prices. Use the lessons to also grow your knowledge of the substitution effect and downward demand curves. By the time you complete the chapter, you could be able to:

  • Explain market demand and market supply schedules
  • Understand the law of demand and the upward-sloping supply curve
  • Find market equilibrium
  • Describe the effects of supply and demand on market equilibrium

Experienced economics and finance educators developed these tutorial video lessons, which are also narrated by knowledgeable instructors. Study online by using your tablet or laptop. If you require expert assistance, just interactively submit your questions on demand, supply and market equilibrium. You'll find an ask-an-expert function on the Dashboard. Each animated video lesson is followed up by a five-question quiz. If you take a quiz and get some answers wrong, you can take it again. When you're satisfied with your performance, print out the quiz results and keep them handy.

Demand, Supply and Market Equilibrium - ORELA Middle Grades Social Science - Chapter Objectives

This chapter will contribute to your knowledge of the laws of supply and demand and the characteristics of various economic systems, all of which you'll need to know to provide accurate answers to questions on the Economics content domain of the ORELA Middle Grades Social Science examination. Finishing the section will earn you 12% of the test score. The entire computer-administered examination consists of four content domains. Its 150 questions are in multiple-choice form. You'll be expected to observe the test's three-hour time limit, and you should earn a score of at least 227 to successfully pass and earn a middle grades social science teaching certification.

6 Lessons in Chapter 68: Demand, Supply & Market Equilibrium - ORELA Middle Grades Social Science
Test your knowledge with a 30-question chapter practice test
Market Demand Schedule

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.

Market Supply Schedule

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.

The Law of the Downward Sloping Demand Curve

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.

The Upward-Sloping Supply Curve

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.

How to Calculate Market Equilibrium

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.

How Changes in Supply and Demand Affect Market Equilibrium

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.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the ORELA Middle Grades Social Science: Practice & Study Guide course

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