PFLE.SS.1.F
Interpret a supply-and-demand graph, including equilibrium point, surpluses, and shortages.
Personal Financial Literacy and Economics · Texas Essential Knowledge and Skills (TEKS) · TEKS 2010
Standard Unwrapping
AI-generated as a starting point — sign in to edit.Vocabulary
supply-and-demand graphequilibrium pointsurplusesshortages
Skills
- interpret (supply-and-demand graph) #dok2
- identify (equilibrium point on a graph) #dok1
- identify (surpluses and shortages on a supply-and-demand graph) #dok1
- explain (relationships between supply, demand, equilibrium, shortages, and surpluses) #dok2
Learning Targets
- I can identify the equilibrium point on a supply-and-demand graph. #dok1
- I can identify where surpluses and shortages occur on a supply-and-demand graph. #dok1
- I can interpret a supply-and-demand graph to explain market conditions like equilibrium, surplus, and shortage. #dok2
- I can explain how changes in supply or demand affect the equilibrium point, surpluses, and shortages on a graph. #dok2
Big Ideas
- Supply-and-demand graphs illustrate how markets reach equilibrium and experience surpluses or shortages.
- Understanding how to read and interpret supply-and-demand graphs helps explain real-world pricing and quantity changes.
Essential Questions
- How can you identify equilibrium, surplus, and shortage on a supply-and-demand graph?
- Why is the equilibrium point important in understanding market conditions?
- How do surpluses and shortages affect buyers and sellers in a market?
- How does a change in supply or demand shift the equilibrium on a graph?
- In what ways do supply-and-demand graphs reflect real-world economic events?