California State Standard Economics 12.2.1, 12.2.2, 12.2.4, 12.2.5
Once students understand the law of supply and demand, the next logical concept is determining a price. This warm up and quick little lesson is based on the California edition of McDougal Littell's Economics: Concepts and Choices textbook. This powerpoint explains to students how changes in supply and demand affect the prices of goods. It might also help to use the free animated economics resource that supplements this particular section.