Title: Unit 2: Supply & Demand Curriculum Alignment (Teacher Only)
Course: Indiana Economics Sample Syllabus > Section: Unit 2: Supply & Demand

Supply and Demand

E.2.1 Define supply and demand, and explain the causes of the Law of Supply and the Law of Demand. (E)

E.2.2 Recognize that consumers ultimately determine what is produced in a market economy.

E.2.3 Illustrate how supply and demand determine equilibrium price and quantity.

E.2.4 Identify factors that cause changes in market supply and demand and how these changes affect price and quantity in a competitive market.

E.2.5 Describe how price elasticity of supply and price elasticity of demand send signals to buyers and sellers.

E.2.6 Describe how the earnings of workers are determined by a number of factors including the market value of the product produced, workers' productivity, the amount of human capital held by workers, collective bargaining, and discrimination. (E)