Watch the video “Supply and Dance, Man!” (Links to an external site.)
- Answer the questions listed below.
- What is the definition of a market?
- What is a market force?
- How does the consumer interest in the canes start?
- What makes the price go up initially?
- What is Kristen and Jonathan’s motivation for ordering more canes?
- What are the factors that cause the price of the canes to continue to go up?
- What causes the surplus?
- How does the surplus affect the cost of the canes?
- What are the factors that cause the price of the canes to continue to go down?
- What is equilibrium?
