Watch the video “Supply and Dance, Man!” (Links to an external site.)

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?

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