Unit 3 Targets. Target #1 Be able to identify what demand is and what sector it refers to.

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Presentation transcript:

Unit 3 Targets

Target #1 Be able to identify what demand is and what sector it refers to.

Target #2 Be able to graph a demand curve and label the x-axis and the y-axis.

Target #3 Be able to identify what the Law of Demand is.

Target #4 Be able to list the factors that affect demand and explain how they increase or decrease demand.

Target #5 Be able to identify the difference between complement and a substitute.

Target #6 Be able to identify what supply is and what sector it refers to.

Target #7 Be able to explain how a supply curve is different than a demand curve.

Target #8 Be able to list the factors that affect supply and explain how they increase or decrease supply.

Target #9 Be able to identify how supply and demand work together to set prices.

Target #10 Be able to graph supply and demand together and label shortage, surplus, and equilibrium price.

Target #11 Be able to explain the benefits of having prices.

Target #12 Be able to explain and give examples of government price controls.