SOC.9-12.E.10.3 - Objective

Explain how changes in supply and demand cause prices to change and in turn, cause buyers and sellers to change, including changes in price of productive resources and technologies used to make the product, profit opportunities available to producers for selling other products, number of sellers in a market, consumer incomes, consumer options, and the number of consumers in a market.

Economics · Oklahoma Academic Standards · Oklahoma 2019