Determining Prices 🍻

🎯 Learning Targets

• Explain what market equilibrium is
• Explain how the price system handles product surpluses and shortages
• Explain how shifts in demand and supply affect market equilibrium

⏰ What We Did

• Using Prohibition of the 1920s and 1930s as a case study, examined the impact of the 18th Amendment on the supply and demand of both alcoholic beverages and grain

⚙️ Resources

• Understanding Market Equilibrium (A-8)

💻 Homework

• Watch and take notes on Lesson 5, Part 3: Managing Prices, before class tomorrow