1. Unit 3 Targets

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

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

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

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

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

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

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

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

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

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

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

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