SS.912.E.1.4

Define supply, demand, quantity supplied,and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.
General Information
Subject Area: Social Studies
Grade: 912
Strand: Economics
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
2102310: Economics (Specifically in versions: 2014 - 2015, 2015 - 2019, 2019 - 2022, 2022 and beyond (current))
2102320: Economics Honors (Specifically in versions: 2014 - 2015, 2015 - 2019, 2019 - 2022, 2022 and beyond (current))
2102380: The American Economic Experience: Scarcity and Choice (Specifically in versions: 2014 - 2015, 2015 - 2020 (course terminated))
2102390: The American Economic Experience: Scarcity and Choice Honors (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 and beyond (current))
2102800: Florida’s Preinternational Baccalaureate Comparative Economics With Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 and beyond (current))
2104300: Introduction to the Social Sciences (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 - 2023 (current), 2023 and beyond)
2106330: Civics (Specifically in versions: 2014 - 2015, 2015 - 2019 (course terminated))
7921020: Access Economics (Specifically in versions: 2014 - 2015, 2015 - 2019, 2019 and beyond)
2102315: Economics for Credit Recovery (Specifically in versions: 2014 - 2015, 2015 - 2019, 2019 - 2022, 2022 and beyond (current))
2102335: Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022, 2022 and beyond (current))
2102340: Economics with Financial Literacy for Credit Recovery (Specifically in versions: 2015 - 2018, 2018 - 2022, 2022 and beyond (current))
2102345: Economics with Financial Literacy Honors (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022, 2022 and beyond (current))
7921040: Fundamental Economics (Specifically in versions: 2013 - 2015, 2015 - 2017 (course terminated))
7921042: Fundamental Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2017 (course terminated))
7921022: Access Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 and beyond)
2100362: Latin American Studies Honors (Specifically in versions: 2020 - 2022, 2022 - 2023 (current), 2023 and beyond)

Related Access Points

Alternate version of this benchmark for students with significant cognitive disabilities.
SS.912.E.1.In.d: Describe how the interaction between supply and demand affects the price of a product.
SS.912.E.1.Su.d: Identify examples of the interaction between supply and demand.
SS.912.E.1.Pa.d: Recognize that goods are produced because people want or need them (supply and demand).

Related Resources

Vetted resources educators can use to teach the concepts and skills in this benchmark.

Lesson Plan

The Specifics of Supply and Demand:

This lesson is designed to teach the specifics of supply and demand. Determinants, as well as effects on equilibrium, will be covered. A short (1/2 to 1 page) argumentative essay and quiz will be the final assessments to determine students' mastery. A PowerPoint, writing rubric, final quiz and answer key have been included with the lesson.

Type: Lesson Plan

Student Resources

Vetted resources students can use to learn the concepts and skills in this benchmark.

Parent Resources

Vetted resources caregivers can use to help students learn the concepts and skills in this benchmark.