Changes in Equilibrium: Supply Shifts
Analyzing how shifts in the supply curve impact equilibrium price and quantity.
Key Questions
- Predict the new equilibrium price and quantity following a decrease in supply.
- Analyze the chain of events that leads to a new equilibrium after a supply shift.
- Evaluate the short-term and long-term effects of supply changes on markets.
ACARA Content Descriptions
Suggested Methodologies
Ready to teach this topic?
Generate a complete, classroom-ready active learning mission in seconds.
More in The Price Mechanism
The Law of Demand
Examining the relationship between price and quantity demanded from a consumer perspective.
2 methodologies
Factors Affecting Demand (Shifts)
Investigating non-price determinants that cause the entire demand curve to shift.
2 methodologies
The Law of Supply
Examining the relationship between price and quantity supplied from a producer perspective.
2 methodologies
Factors Affecting Supply (Shifts)
Investigating non-price determinants that cause the entire supply curve to shift.
2 methodologies
Market Equilibrium: Price and Quantity
Identifying the point where supply meets demand and the consequences of surpluses and shortages.
2 methodologies