calculations, the factors which influence supply Plotting supply: student- focused including how to construct an individual firm's activities based upon plotting percentage supply curve from production data supply curves based upon changes. the difference between shifts of, provided figures for supply. and movements along, the supply Analysis and curve. reasoning skills. Equilibrium price Use of supply and Students will be able to understand: Equilibrium price: teacher-led demand diagrams explanation and presentation of how the interaction between supply to show the the concept of equilibrium and and demand determines effects of explanation of market forces equilibrium price using a supply changes in supply determining the price of goods and demand diagram and/or demand and services. why excess demand and excess plus supply can lead to changes in price Equilibrium on demand and accompanying how to use supply and demand supply curves: use of demand logical analysis. diagrams to understand the impact and supply curves to identify of changes in equilibrium market equilibrium. prices Real examples: teacher-led how demand and supply curves presentation and use of real world can be applied to a variety of examples found in newspapers to markets illustrate how events affect the how to demonstrate revenue on a equilibrium price in various demand and supply diagram. markets. Intermarket Students will be able to understand: Complements and substitutes: relationships teacher-led discussion using the meaning of complementary and examples of complementary and substitute goods substitute goods. Students could the impact of changes in demand, be asked to provide a supply and in one market on complementary or substitute good other related markets. in response to an example good,
calculations, including percentage changes. Analysis and reasoning skills. the factors which influence supply how to construct an individual firm's supply curve from production data the difference between shifts of, and movements along, the supply curve. Plotting supply: student- focused activities based upon plotting supply curves based upon provided figures for supply. Equilibrium price Use of supply and demand diagrams to show the effects of changes in supply and/or demand plus accompanying logical analysis. Students will be able to understand: how the interaction between supply and demand determines equilibrium price using a supply and demand diagram why excess demand and excess supply can lead to changes in price how to use supply and demand diagrams to understand the impact of changes in equilibrium market prices how demand and supply curves can be applied to a variety of markets how to demonstrate revenue on a demand and supply diagram. Equilibrium price: teacher-led explanation and presentation of the concept of equilibrium and explanation of market forces determining the price of goods and services. Equilibrium on demand and supply curves: use of demand and supply curves to identify equilibrium. Real examples: teacher-led presentation and use of real world examples found in newspapers to illustrate how events affect the equilibrium price in various markets. Intermarket relationships Students will be able to understand: the meaning of complementary and substitute goods the impact of changes in demand, supply and in one market on other related markets. Complements and substitutes: teacher-led discussion using examples of complementary and substitute goods. Students could be asked to provide a complementary or substitute good in response to an example good,
AQA-8136-SOW.DOCX