EconExperiments
- Shortage, Surplus & Equilibrium
<<This experiment is contributed
by Ms Fai-shuet NGAI of
the China Holiness Church Living Spirit College.>>
| Discussion forum--- Please leave your valuable comments or questions here! | |
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| Concepts & Keywords Illustrated: | |||
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Demand | ||
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Quantity demanded | ||
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Supply | ||
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Quantity supplied | ||
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Equilibrium price & quantity | ||
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Surplus | ||
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Shortage | ||
| Brief description: | |||
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Teacher as a supplier of snack, sells different snacks to students in real. Teacher keeps adjusting the price so that an equilibrium is reached. | ||
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Teacher can also guide students to discover other methods to solve the problem of shortage and how to allocate surplus by fixing the price at a low or high level respectively. | ||
Teaching Materials:
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