{"id":196,"date":"2015-04-20T20:27:53","date_gmt":"2015-04-20T20:27:53","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterybusiness1xngcxmaster\/?post_type=chapter&#038;p=196"},"modified":"2015-07-16T23:49:32","modified_gmt":"2015-07-16T23:49:32","slug":"forces-behind-supply-and-demand","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/chapter\/forces-behind-supply-and-demand\/","title":{"raw":"Outcome: Forces Behind Supply and Demand","rendered":"Outcome: Forces Behind Supply and Demand"},"content":{"raw":"<h2>What you\u2019ll learn to do:\u00a0identify the forces that drive supply and demand within an economic system<\/h2>\r\nHow do\u00a0supply and demand shift within an economic system? They are both \"driven\" to change by forces in the economic system. In this module you'll\u00a0learn about some of these forces, such as Adam Smith's \"invisible hand,\" scarcity caused by natural disasters, and human intervention aimed at\u00a0manipulation or control of the markets.\u00a0Watch the following video, which provides an introduction and\u00a0context for understanding\u00a0changes in supply and demand.\r\n\r\nhttps:\/\/youtu.be\/swAIcF2Kmgk\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Reading: Demand, Supply, and Equilibrium in Markets for Goods and Services<\/li>\r\n\t<li>Reading: Shifts in Demand<\/li>\r\n\t<li>Simulation: Demand for Food Trucks<\/li>\r\n\t<li>Reading: Shifts in Supply<\/li>\r\n\t<li>Simulation: Supply of Food Trucks<\/li>\r\n\t<li>Simulation: Food Trucks and Changes in Equilibrium<\/li>\r\n\t<li>Video: Indiana Jones (Demand, Supply, Equilibrium, Shifts)<\/li>\r\n\t<li>Self Check: Supply and Demand<\/li>\r\n<\/ul>\r\nTake time to review and reflect on each of these activities\u00a0in order to improve your performance on the assessment for this section.","rendered":"<h2>What you\u2019ll learn to do:\u00a0identify the forces that drive supply and demand within an economic system<\/h2>\n<p>How do\u00a0supply and demand shift within an economic system? They are both &#8220;driven&#8221; to change by forces in the economic system. In this module you&#8217;ll\u00a0learn about some of these forces, such as Adam Smith&#8217;s &#8220;invisible hand,&#8221; scarcity caused by natural disasters, and human intervention aimed at\u00a0manipulation or control of the markets.\u00a0Watch the following video, which provides an introduction and\u00a0context for understanding\u00a0changes in supply and demand.<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-1\" title=\"Beef Prices Supply and Demand\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/swAIcF2Kmgk?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading: Demand, Supply, and Equilibrium in Markets for Goods and Services<\/li>\n<li>Reading: Shifts in Demand<\/li>\n<li>Simulation: Demand for Food Trucks<\/li>\n<li>Reading: Shifts in Supply<\/li>\n<li>Simulation: Supply of Food Trucks<\/li>\n<li>Simulation: Food Trucks and Changes in Equilibrium<\/li>\n<li>Video: Indiana Jones (Demand, Supply, Equilibrium, Shifts)<\/li>\n<li>Self Check: Supply and Demand<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities\u00a0in order to improve your performance on the assessment for this section.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-196\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Linda Williams and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Beef Prices Supply and Demand. <strong>Provided by<\/strong>: BBC. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=swAIcF2Kmgk\">https:\/\/www.youtube.com\/watch?v=swAIcF2Kmgk<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-nd\/4.0\/\">CC BY-NC-ND: Attribution-NonCommercial-NoDerivatives <\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":78,"menu_order":7,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Linda Williams and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Beef Prices Supply and Demand\",\"author\":\"\",\"organization\":\"BBC\",\"url\":\"https:\/\/www.youtube.com\/watch?v=swAIcF2Kmgk\",\"project\":\"\",\"license\":\"cc-by-nc-nd\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"6365a86c-ca74-48e0-81dc-978729d4461b","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-196","chapter","type-chapter","status-publish","hentry"],"part":81,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/users\/78"}],"version-history":[{"count":24,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/196\/revisions"}],"predecessor-version":[{"id":5516,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/196\/revisions\/5516"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/parts\/81"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/196\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/media?parent=196"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapter-type?post=196"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/contributor?post=196"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/license?post=196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}