2-5.2

Standard 2-5: The student will demonstrate an understanding of trade and markets and the role of supply and demand in determining the price and allocation of goods within the community.
2-5.2: Summarize the concept of supply and demand and explain its effect on price. (E)

It Is Essential For Students To Know:

It is essential for students to know the definition of supply and demand.
Students need to know why prices go up and down in their community market place.

It Is Not Essential For Students To Know:

It is not essential for students to know factors that cause supply and demand curves to shift and issues relating to equilibrium price and quantity.

2-5.2 Links to Information For Teachers