EQUILIBRIUM occurs when quantity supplied equals quantity demanded at a particular price.
4 discussion questions
1. What happens to the equilibrium price and quantity if: demand increases?
2. What happens if demand decreases?
3. What if supply increases?
4. What if supply decrease?
Try to come up with specific examples for each of these questions.
This is a PPT so it is to be used as a teaching resource. It has many pictures and very few words...
I have added questions and a script with possible answers.