TEKS: Chapter 118. Economics See All Teacher Resources

118.4.c.2

(2) Economics. The student understands the interaction of supply, demand, and price. The student is expected to:

• (A) understand the effect of changes in price on the quantity demanded and quantity supplied;
• (B) identify the non-price determinants that create changes in supply and demand, which result in a new equilibrium price; and
• (C) interpret a supply-and-demand graph using supply-and-demand schedules.