Nearpod version available

Grade 9-12
,
Lesson

Using Systems of Equations with Supply and Demand Application

Time: 60 mins,
Updated: April 11 2022,
Author: Jennifer Davidson
Teacher Version

Objective

Students will be able to:

  • Define supply, demand, law of demand, and equilibrium.
  • Construct a supply and demand graph.
  • Compute the equation of a linear demand curve.
  • Compute the equation of a linear supply curve.
  • Compute the intersection of the supply curve and demand curve (confirm the equilibrium price and quantity) using a system of equations.

Standards

National Standards in Economics

State Standards

Common Core State Standards

Concepts

Demand, Markets and Prices

In this personal finance lesson, students will learn supply and demand by utilizing a system of equations.

Resources

Procedure

Click NEARPOD VERSION: SYSTEMS OF EQUATIONS: SUPPLY AND DEMAND APPLICATION to access an interactive version of the lesson powered by Nearpod: students interact and respond to questions on their device, and teachers will see their responses in real time!

Subjects: