Market Equilibrium
Students will determine market equilibrium graphically and numerically, understanding how prices adjust to clear markets.
Key Questions
- Explain how the interaction of supply and demand determines equilibrium price and quantity.
- Analyze the market forces that push prices towards equilibrium in the presence of surpluses or shortages.
- Construct a graph illustrating a market in equilibrium and identify the equilibrium point.
Ontario Curriculum Expectations
Suggested Methodologies
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