Ch 36: ORELA Business Education: Supply & Demand

About This Chapter

Gain greater insight into supply and demand as you study for the ORELA Business Education assessment. Review engaging lessons to get reacquainted with this subject area, then gauge your comprehension with short quizzes.

ORELA Business Education: Supply & Demand - Chapter Summary

This chapter can help you revisit concepts you haven't explored in months or years as you prepare to take the ORELA Business Education assessment. Brush up on your knowledge of supply and demand to ensure you're able to:

  • Showcase your understanding of the demand curve in microeconomics
  • Discuss the supply curve in microeconomics
  • Explain the causes of supply and demand changes
  • Describe market equilibrium from a microeconomics perspective
  • Provide insight into microeconomic shifts in supply and demand curve
  • Demonstrate how to use market forces to manipulate supply and demand
  • Define price elasticity

The lessons average about 10 minutes apiece, condensing days or weeks of subject matter into short videos you can use to study for the exam. Explore the lessons in the sequence that works for you, and revisit them as often as needed until you're confident you comprehend the materials.

ORELA Business Education: Supply & Demand - Chapter Objectives

The ORELA Business Education assessment is designed to gauge the knowledge and skills of educators interested in teaching business classes to students in Oregon classrooms. The test explores a variety of business subject areas, including management, marketing, economics, personal finance, technology and communications. Topics in this chapter are found in the economics and international business content domain, which constitutes about 19% of the total test.

Simplify the process of studying for the assessment by reviewing the lessons in this chapter. You can strengthen your knowledge of supply and demand then test your comprehension with lesson quizzes. The questions on the quizzes are similar in content and format to the 150 multiple-choice questions on the assessment, giving you added practice as you prepare for the test. Earning a minimum passing score of 234 on the ORELA assessment will grant you business education teaching licensure.

7 Lessons in Chapter 36: ORELA Business Education: Supply & Demand
Test your knowledge with a 30-question chapter practice test
Understanding the Demand Curve in Microeconomics

1. Understanding the Demand Curve in Microeconomics

Learn what the demand curve in microeconomics is. Find out the common components of the demand curve and how they are created. See what causes a movement along a demand curve and what causes a shift of the entire curve.

The Supply Curve in Microeconomics

2. The Supply Curve in Microeconomics

Learn about the supply curve and its unique characteristics. Find out some of the common terms used when discussing the supply curve and the difference between a movement along a supply curve and a shift of the entire curve. See some examples of each.

Causes of Supply and Demand Changes in Microeconomics

3. Causes of Supply and Demand Changes in Microeconomics

Learn what causes movements along the supply and demand curves. See how market forces work to cause these movements and the important role that price plays in this.

Market Equilibrium from a Microeconomics Perspective

4. Market Equilibrium from a Microeconomics Perspective

Learn about the definition of market equilibrium. Learn how to identify the equilibrium point on a supply and demand graph and discover what causes this point to change in our everyday lives.

Microeconomic Shifts in Supply and Demand Curves

5. Microeconomic Shifts in Supply and Demand Curves

Learn about the important forces that can cause the demand and supply curve to shift. Discover how this affects equilibrium and the prices you pay for goods and services.

Using Market Forces to Manipulate Supply and Demand

6. Using Market Forces to Manipulate Supply and Demand

While the forces of supply and demand are powerful, they are not immobile. This lesson explains how various market forces can cause the supply and demand curves to shift.

Price Elasticity: Understanding Supply and Demand

7. Price Elasticity: Understanding Supply and Demand

Marketing managers need to understand the basics of supply and demand in order to develop the precise price for their product. Inelastic and elastic demand explains how sensitive consumers are to price and how much flexibility it allows the marketing team.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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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 Business Education: Practice & Study Guide course

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