WebQuest
Supply meets Demand at Equilibrium with a Price: Uncovering Supply and Demand
Process
These resources will help you to understand the concept of supply and demand. In addition, some of the resources will aid you in understanding how the price of goods and services is determined. You do not need to use any additional resources for the group activity other than the ones that are on this WebQuest. Therefore, please utilize all of the resources that are available on this WebQuest. They all have something different to offer!
I recommend for you to use resources 1, 2, and 3 for introduction and basic concepts of supply and demand.
Use resources 3 and 7 to understand how the price is affected.
Use 4 and 5 to understand how different determinants affect the supply and demand curve.
Use number 6 to get an additional in-depth knowledge of supply, demand, equilibirum, price elasticity of demand, and opportunity cost.
Use 9 and 10 to test your knowledge, and 11 to help you with designing your own product.
Attachments
Web Link
Web Link
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Supply and Demand
Description: Economics Interactive Lecture
Economic forces of Supply and Demand
Clip from The Hudsucker Proxy
Description: This video clip from the film the Hudsucker Proxy exhibits how prices interact with demand for goods and services.
Description: This video clip from the film the Hudsucker Proxy exhibits how prices interact with demand for goods and services.
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