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Applied Economics
Quarter 3 – Module 3
Analyze Market Demand,
Market Supply
and Market Equilibrium
Applied Economics - Grade 12
Self-Learning Mode (SLM)
Quarter 3 – Module 3: Analyze market demand. market supply and market
equilibrium
First Edition, 2020

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 12
Applied Economics

Quarter 3 – Module 3

Analyze Market Demand,

Market Supply and Market
Equilibrium
Introductory Message
For the facilitator:

Welcome to the Applied Economics Grade 12 Self-Learning Module (SLM) on

Analyzing Market Demand, Market Supply and Market Equilibrium!
This module was collaboratively designed, developed and reviewed by educators
both from public and private institutions to assist you, the teacher or facilitator in
helping the learners meet the standards set by the K to 12 Curriculum while
overcoming their personal, social, and economic constraints in schooling.

This learning resource hopes to engage the learners into guided and independent
learning activities at their own pace and time. Furthermore, this also aims to help
learners acquire the needed 21st century skills while taking into consideration
their needs and circumstances.

In addition to the material in the main text, you will also see this box in the body of
the module:

Notes to the Teacher

This contains helpful tips or strategies
that will help you in guiding the learners.

As a facilitator you are expected to orient the learners on how to use this module.
You also need to keep track of the learners' progress while allowing them to
manage their own learning. Furthermore, you are expected to encourage and assist
the learners as they do the tasks included in the module.

2
For the learner:

Welcome to Applied Economics Grade 12 a Self-Learning Module (SLM) on

Analyzing Market Demand, Market Supply and Market Equilibrium!

The hand is one of the most symbolized part of the human body. It is often used to
depict skill, action and purpose. Through our hands we may learn, create and
accomplish. Hence, the hand in this learning resource signifies that you as a
learner is capable and empowered to successfully achieve the relevant
competencies and skills at your own pace and time. Your academic success lies in
your own hands!

This module was designed to provide you with fun and meaningful opportunities
for guided and independent learning at your own pace and time. You will be
enabled to process the contents of the learning resource while being an active
learner.

This module has the following parts and corresponding icons:

What I Need to Know This will give you an idea of the skills or
competencies you are expected to learn in
the module.

What I Know This part includes an activity that aims to

check what you already know about the
lesson to take. If you get all the answers
correct (100%), you may decide to skip this
module.

What’s In This is a brief drill or review to help you link

the current lesson with the previous one.

What’s New In this portion, the new lesson will be

introduced to you in various ways such as a
story, a song, a poem, a problem opener, an
activity or a situation.

What is It This section provides a brief discussion of

the lesson. This aims to help you discover
and understand new concepts and skills.

What’s More This comprises activities for independent

practice to solidify your understanding and
skills of the topic. You may check the
answers to the exercises using the Answer
Key at the end of the module.

What I Have Learned This includes questions or blank

sentence/paragraph to be filled in to process
what you learned from the lesson.

What I Can Do This section provides an activity which will

help you transfer your new knowledge or

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 skill into real life situations or concerns.

Assessment This is a task which aims to evaluate your

level of mastery in achieving the learning
competency.

Additional Activities In this portion, another activity will be given

to you to enrich your knowledge or skill of
the lesson learned. This also tends retention
of learned concepts.

Answer Key This contains answers to all activities in the

module.

At the end of this module you will also find:

References This is a list of all sources used in

developing this module.

The following are some reminders in using this module:

1. Use the module with care. Do not put unnecessary mark/s on any part of
the module. Use a separate sheet of paper in answering the exercises.
2. Don’t forget to answer What I Know before moving on to the other activities
included in the module.
3. Read the instruction carefully before doing each task.
4. Observe honesty and integrity in doing the tasks and checking your
answers.
5. Finish the task at hand before proceeding to the next.
6. Return this module to your teacher/facilitator once you are through with it.
If you encounter any difficulty in answering the tasks in this module, do not
hesitate to consult your teacher or facilitator. Always bear in mind that you are
not alone.

We hope that through this material, you will experience meaningful learning
and gain deep understanding of the relevant competencies. You can do it!

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 What I Need to Know

This module was designed and written with you in mind. It is here to help
you learn the different concepts of Market Demand, Market Supply and
Market Equilibrium. The scope of this module permits it to be used in many
different learning situations.

After going through this module, you are expected to;

1. state the law of demand and supply,
2. determine the different factors affecting demand and supply,
3. plot market demand and supply schedule,
4. give an analysis on market demand, market supply and market equilibrium.
1.

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 What I Know

GENERAL INSTRUCTION: DO NOT WRITE ANYTHING ON THIS MODULE. WRITE

ALL YOUR ANSWERS ON SEPARATE SHEETS OF
PAPER.

Instruction: Choose the best answer and write only the letter of your choice on your
answer sheet.
1. Another term used for equilibrium is .
a. balance b. static
c. stable d. common

2. The quantity of a product or service that consumers are willing to buy at a given
price in a given interval of time.
a. supply b. market
c. demand d. supply schedule
3. If the quantity demanded exceeds the quantity supplied, then there is
a. a shortage and the price is above the equilibrium price
b. a surplus and the price is below the equilibrium price
c. a shortage and the price is below the equilibrium price
d. a surplus and the price is above the equilibrium price
4. In a market equilibrium. A higher price will result to .
a. constant demand b. surplus
c. constant supply d. shortage
5. The equilibrium quantity of a good will increase and its equilibrium price might
rise, fall, or stay the same when _________________________.
a. its demand decreases and supply increases
b. its demand increases and supply decreases
c. its demand and supply both increase
d. its demand and supply both decrease
6. Which of the following is true?
a. The supplies of inputs used affect the supply of a good.
b. The lower the price of the good, the smaller the quantity that will be offered
by the supplier.
c. The lower the price of the good, the bigger the quantity that will be demanded
by the buyer.
d. All of the above.
7. The supply curve is positively sloped because .
a. any increase in the cost of production will result to a higher price
b. the lower the price, the larger supply the consumers are willing to buy
c. the higher the price, the higher the quantity that suppliers are willing to sell

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 d. the larger the quantity supplied, the lower the price
8. The demand curve is sloping down because .
a. any increase in the cost of production will result to a higher price
b. the lower the price, the higher the quantity the suppliers are willing to sell
c. the higher the price, the higher the quantity that suppliers are willing to sell
d. the larger the quantity supplied, the lower the price
9. An increase in demand combined with no change in supply causes
a. a decrease in demand because the supply curve does not shift.
b. the equilibrium price to fall.
c. a movement rightward along the demand curve.
d. the equilibrium price to rise.
10. People come to expect that the price of a gallon of gasoline will rise next week.
as a result .
a. next week's supply of gasoline decreases
b. the price of a gallon of gasoline falls today
c. today's supply of gasoline increases
d. today's demand for gasoline increases
11. A local grocery store orders 200 cases of Coca Cola each week and sells them at
a price of P150.00 per case. At the end of the first week, they have only sold 160
cases. What economic situation is the grocery store facing and what happen to
price in order for the equilibrium to be attained?

a. surplus; price will rise

b. surplus; price will fall
c. shortage; price will rise
d. shortage; price will fall

12. Which of the following can lead to an increase in the supply for good X?
a. a decrease in the number of sellers of good X
b. an increase in the price of inputs used to make good X
c. an increase in consumers' income, assuming good X is a normal
d. an improvement in technology used in production of good X

13. An increase in the price of electricity will _______________.

a. increase the demand for kerosene heaters
b. increase the demand for light bulbs
c. increase the demand for stereos
d. increase the demand for TVs
14. Each point on the demand curve reflects
a. the highest price consumers are willing and able to pay for that particular unit
of a good.
b. the highest price sellers will accept for all units they are producing.
c. the lowest-cost technology available to produce a good.
d. all the wants of a given household.
15. Which of the following influences people's buying plans and varies moving
along a demand curve?
a. preferences
b. the price of the good
c. income
d. the prices of related goods

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 Lesson Analyze Market Demand,
3 Market Supply and Market
Equilibrium
It is a well-known phenomenon that production influences retail costs for
goods and services. Individuals who have knowledge on the nature of supply and
demand will be able to understand why there is shortage or excess of goods and
services in the market.
Now, let's start learning the fundamental concepts that will help you analyze
market demand, supply, and equilibrium.

What’s In

Let’s have a Drill!

Activity1. Word Search

Instructions: Find 10 words in the box. Words appear straight across, backward
straight across, up and down, down and up, and diagonally.

E S U R P L U S A B E R
I Q M L C V S E U A J O
Z S U P P Y R E W H N B
O D C I N C O M E C B E
P E H K L U H U I Y G T
Q U A N T I T Y D A L X
A X N O V A B N T P Z A
L D G I X M A R K E T I
I P E V A M O Z I O G W
U A I X E H A B T U L J
C N J D S P L K Q U M S

1. List 10 words you can find in the box.

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2. From the 10 words listed, choose two words and say something about these
words.

Notes to the Teacher

Teacher facilitates an activity that enables learners to

use previously taught lesson.

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 What’s New

Excellent! You've done it! You are about to start the next part of our discussion.
This time let's do some warm up exercises to guide you to our new lesson.

Let’s warm up!

Activity 2. Fill in the blanks.

Instruction: Use the word from the word box below to complete each
statement.

Supply Demand Price Consumers

Producer Product Raw Materials

1. You start your own "buko shake" shop. This means that you are a
and the "buko shake" is the that you are making and selling.
2. The people that buy "buko shake" from your shop are called .
3. The is how much "buko shake" that you have available.
4. The is how much "buko shake" that people want.
5. The of your "buko shake" tells consumers how much money they
will need to buy your "buko shake."

What is It

I. Market Demand and Market Supply

“Market demand for a product is the cumulative amount that will be
purchased by a given user category in a defined geographical region within a
specified time span in a defined marketing setting under a defined marketing
program,” says Philip Kotler.

Market supply is the cumulative volume of an item that suppliers are willing
and able to sell at various rates for a given time span, example one month.
A. Meaning of Demand and Supply

Demand is a term used by economists to describe the quantity of a product

or service that consumers s are willing and able to buy at a given price.

In economics, demand should not refer to a simple need or desire that is not
accompanied by the opportunity to pay or a lack of buying power. Potential demand

10
is the expression for this form of demand. Effective demand is characterized as
demand that is backed up by the willingness to pay. We will still consider the
efficient market when discussing demand in the future. The actual procurement of a
product or service is then referred to as demand.

Supply, on the other hand is the availability or the amount of a product that
is on the market and available for purchase at a given price. To put it another way,
supply refers to the quantity of goods and services available for sale at a given price
in a given time and place. The desire and willingness of sellers to sell is referred to
as supply.

B. Demand and Supply Schedule

A market is an environment where buyers and sellers communicate with one
another and share goods and services. There are many buyers and sellers in the
market who can purchase or sell varying amounts of a product. As a result, various
activities between buyers and sellers occur, necessitating the creation of a
demand/supply schedule.

A demand schedule describes the amounts of products and services

requested by a customer or a group of consumers at a given price.

Example:

Table A
Hypothetical Demand of Mango in the Market
Price of Mango Quantity Demanded
(Per Kilo) In Kilos
P 200.00 10
P 150.00 30
P 100.00 50
P 50.00 70

A supply schedule displays the various amounts available for purchase at various
costs. The supply schedule may represent the individual schedule of a single
producer or the business schedule, which shows the combined supply of a group of
sellers or producers.
Example:

Table B
Hypothetical Demand of Corn in the Market
Price of Corn Quantity Supplied
(Per Sack) (P 100/Sack)
P 400.00 200
P 300.00 150
P 200.00 100
P 100.00 50

In Table A, it is shown that when the price is low consumers prefer to buy
more, than when the price is high. At P200.00, the quantity demanded by
consumers is 10 kilos, thus lowering the price to P 50.00 raises the quantity
demanded by consumers to 70 kilos.

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 Table B shows that a seller provides a large quantity of corn supply in the
market if the price is high, but only a few sacks of corn he is willing supply if the
price is low.

C. The Law of Demand and Supply

The law of demand is characterized as "the quantity of a product that buyers

would buy at a given time and place varies inversely with price." This implies that as
the price rises, the quantity demanded falls, and as the price falls, the quantity
demanded rises.

The law of supply states that the amount available for sale varies directly
with price. This implies that as the price rises, so does the quantity supplied; and as
the price falls, so does the quantity supplied. The law of supply is the direct
relationship between price and quantity supplied. Producers are eager and able to
manufacture and sell more products at better prices because they earn more. Such
seller or producer activity is a natural instinct. No merchant would manufacture
products if he does not make a profit.

D. Determinants of Demand and Supply

D.1 Determinants of Demand

The following are the demand determinants, also known as non-price factors
that influence a buyer's willingness or capacity to purchase goods.

1. Income
People consume more products and services as their income rises, but less as
their income falls, affecting the market for goods and services. Changes in people's
wages can affect their appetite for goods and services. Depending on the commodity,
an increase in wages would either increase or decrease the demand.

2. Population
Increased population means increased demand for goods and services. As a
result, we can see that there are more shoppers in city markets than in barrio
stores. Conversely, a decline in population means a decrease in demand for goods
and services. Clearly, industry in rural areas is inferior to business in urban areas.

3. Tastes and Preferences

When people like or like a product or service, demand for it rises.
Advertisement or trend has a large effect on such tastes or desires. In the other
hand, as a commodity goes out of style, the need for it decreases.

4. Price Expectations
When people anticipate that the prices of products, especially simple
commodities such as rice, soap, cooking oil, or sugar, will rise tomorrow or next
week, they will purchase more of these goods. Similarly, they minimize their
demand for each commodity whether they expect the price to fall tomorrow or in a
few days. The aim of such consumer behavior is to save money. This is a common
buyer conduct.

5. Price of Related Goods

People prefer to purchase alternative goods as the price of a particular good

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rises. This suggests that if the price of one good rises, so will the market for another.
Price and quantity requested are closely linked for replacements.

D1.2 Determinants of Supply

1. Technology
Technological advancement allows for more effective processing of goods and
services. As a result, manufacturing prices are reduced and earnings are increased.
As a result, consumption grows and the supply curve shifts to the right. Since
technology seldom deteriorates in general, it goes without saying that degradation of
technology decreases supply.

2. Cost of Production
Climate patterns also have an effect on the production of products. During
the cold season, a businessman can make more sweaters, more umbrellas during
the rainy season, and light clothing fabrics and walking shorts during the summer.

3. Number of Sellers
The larger the number of sellers, the greater the amount of goods or services
available in the market and vice versa. Thus, an increase in the number of sellers
increases supply and shifts the supply curve to the right, while a reduction in the
number of sellers decreases supply and shifts the supply curve to the left.

4. Taxes and Subsidies

Since taxes limit income, a rise in taxes decreases production, while a
reduction in taxes raises supply. Subsidies alleviate producers of the burden of
manufacturing costs, rising earnings. As a result, increasing subsidies increases
supply while decreasing subsidies decreases supply.

5. Weather
Climate patterns also have an effect on the production of products. During
the cold season, a businessman can make more sweaters, more umbrellas during
the rainy season, and light clothing fabrics and walking shorts during the summer.

E. The Ceteris Paribus Assumption

According to the law of demand, as prices grow, quantity demanded falls, and
as prices decline, quantity demanded rises. This hypothesis holds true if we apply
the Ceteris Paribus principle, which says that "all other things are equal or
unchanged." That is, the demand determinants are stable and are not treated as
variables that can influence consumer demand. Thus, using the Ceteris Paribus
theory, the law of demand can be restated as "assuming that the determinants of
demand are stable, price and quantity demanded are inversely proportional to each
other."

However, if the demand determinants are regarded as major factors or have a

significant impact on consumer demand, the Ceteris Paribus assumption is
dropped.

F. Changes in Demand and Supply

Changes in demand, refers to a movement in the demand curve brought by
changes in demand determinants. For example, an increase in population leads to
an increase in demand for goods and services, while a reduction in income leads to
a decrease in demand. As seen in Fig 1.1, an increase in demand shifts the demand

13
curve to the right, while a reduction in demand shifts the demand curve to the left.

Changes in supply, pertains to a movement in the supply curve brought by

changes in the supply determinants. A rise in supply moves the supply curve to the
right in graphical representation, while a reduction in supply shifts the supply curve
to the left. Figure 1.2 depicts supply shifts.

II. Market Equilibrium

The point at which the quantity produced by suppliers and the quantity
desired by consumers are equal is referred to as market equilibrium. When we
combine the demand and supply curves, we will calculate the equilibrium price,
which is the price at which the quantity demanded equals the quantity supplied.

Figure 1 represents the equilibrium price as P*, which is exactly where the demand
and supply curves converge. This makes sense–the demand curve gives the quantity
required at every price, and the supply curve gives the quantity provided at every
price, so they each have one price in general, which is the price at the intersection of
the two curves.

Figure 1: The Supply and Demand Curves and Market Equilibrium

One method for determining the equilibrium price is to graph the supply and
demand curves and identify their intersection.

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A. THE EFFECT OF A CHANGE IN SUPPLY ON EQUILIBRIUM PRICE AND
QUANTITY

Equilibrium point is subject to change. This is the result of a change in

either the supply or demand curves, or both. Changes in their respective
determinants allow the demnad and supply curves to change. Assume that the
demand curve is constant and the output curve has moved to the right as a result
of the producer's use of new technology.

The supply curve turns to the right to indicate increase in supply as a result
of new technology adoption. It is worth noting that the market price has been
decreased from P30.00 to P20.00 while demad has remained constant. The
quantity of production, on the other hand, increased from 300 to 400.

Similarly, a difference in the demand curve with the supply curve held steady
would result in a transition in the equilibrium point, as seen in Figure 3.

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 What’s More

Amazing! Now let's do some drills to see how well you've progressed with the lesson.

Activity 3. “Demand VS Supply”

Instructions: Read the statement and give what is asked.

1. State the Law of Demand and the Law of Supply.

2. Over the last three years, the tuition fees of ARTS University have increased by
10%. At the same time, the number of students enrolled in said school has
increased from 10,000 to 13,000.
Does this example demonstrate that the law of demand is not true? Explain
your answer.

What I Have Learned

Congratulations! This time, let's see if you can still recall the lesson presented in
this module. Read and follow the instructions carefully.
Activity 4. “Match It”
Instructions: Match the explanation with the terms correctly by writing the letter of
your answer in a separate sheet of paper.
a. The direct relationship between price and quantity supplied that is as the price increases
quantity supplied increases; and as price decreases, quantity supplied also decreases.

b. Represent the individual schedule of a single producer or the business schedule, which
shows the combined supply of a group of sellers or producers.

c. Describes the amounts of products and services requested by a customer or a group of

consumers at a given price.

d. The point at which the quantity produced by suppliers and the quantity desired by
consumers are equal.

e. The cumulative amount that will be purchased by a given user category in a defined
geographical region within a specified time span in a defined marketing setting under a
1.marketing
defined Market demand
program

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 1. Demand schedule
2. Supply schedule
3. Market equilibrium
4. Law of supply

What I Can Do

You are doing great! Let's do another exercise that will help you apply what you've
learned in this module to a real-world situation.
Activity 5. “Let’s Graph”
Instructions: Using a graph, plot the following hypothetical market demand and
supply schedules for commodity A and answer the succeeding questions.

Quantity Price Quantity

Demanded (Peso) Supplied
(Units) (Units)
50 P35 500
150 30 400
200 25 300
250 20 250
300 15 200
400 10 150

1. What is the equilibrium price and equilibrium quantity?

2. What happens to the Equilibrium Price (Pe) and Equilibrium Quantity (Qe) if
market supply increased by 5% at all price levels without any increase in demand?
Show your new demand and supply schedules and graphs.

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 Assessment

Bravo! You're almost done!

Let's take the next task that aims to assess your level of mastery in achieving the
learning competency of this module.

Instructions: Choose the letter of the best answer. Write the chosen letter on a
separate sheet of paper.

1. A rise in the price of a good causes producers to supply more of the good. This
statement illustrates
a. the nature of an inferior good.
b. the law of demand.
c. the law of supply.
d. a change in supply

2. If both demand and supply increase, what will be the effect on the equilibrium
price and quantity?
a. The price will rise but the quantity could either increase, decrease or
remain the same.
b. The quantity will increase but the price could either rise, fall, or remain
the same.
c. Both the price and the quantity will increase.
d. The price will fall but the quantity will increase

3. If both the demand and supply increase, the equilibrium quantity

a. decreases and the price rises.
b. increases and the effect on price is indeterminate.
c. decreases and the effect on price is indeterminate.
d. increases and the price falls.

4. The quantity demanded is .

a. the amount of a good that consumers plan to purchase at a particular
price
b. independent of the price of the good
c. independent of consumers' buying plans
d. always equal to the equilibrium quantity

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5. The supply curve is positively sloped because .
a. any increase in the cost of production will result to a higher price
b. the lower the price, the larger supply the consumers are willing to buy
c. the higher the price, the higher the quantity that suppliers are willing to
sell
d. the larger the quantity supplied, the lower the price
6. Each point on the demand curve reflects
a. the highest price consumers are willing and able to pay for that particular
unit of a good.
b. the highest price sellers will accept for all units they are producing.
c. the lowest-cost technology available to produce a good.
d. all the wants of a given household.

7. The equilibrium quantity of a good will increase and its equilibrium price might
rise, fall, or stay the same when
a. its demand decreases and supply increases.
b. its demand increases and supply decreases.
c. its demand and supply both increase.
d. its demand and supply both decrease.

8. The demand curve is sloping down because .

a. any increase in the cost of production will result to a higher price
b. the lower the price, the higher the quantity the suppliers are willing to
sell
c. the higher the price, the higher the quantity that suppliers are willing to
sell
d. the larger the quantity supplied, the lower the price
9. People come to expect that the price of a gallon of gasoline will rise next week. As
a result .
a. next week's supply of gasoline decreases
b. the price of a gallon of gasoline falls today
c. today's supply of gasoline increases
d. today's demand for gasoline increases

10. Which of the following can lead to an increase in the supply for good X?
a. a decrease in the number of sellers of good X
b. an increase in the price of inputs used to make good X
c. an increase in consumers' income, assuming good X is a normal
d. an improvement in technology used in production of good X

11. An increase in demand combined with no change in supply causes

a. a decrease in demand because the supply curve does not shift.
b. the equilibrium price to fall.
c. a movement rightward along the demand curve.
d. the equilibrium price to rise

12. Which of the following is true?

a. The supplies of inputs used affect the supply of a good.
b. The lower the price of the good, the smaller the quantity that will be
offered by the supplier.
c. The lower the price of the good, the bigger the quantity that will be
demanded by the buyer.
d. All of the above.

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13. A local grocery store orders 200 cases of Coca Cola each week and sells them at
a price of P150.00 per case. At the end of the first week, they have only sold 160
cases. What economic situation is the grocery store facing and what will happen to
price in order for equilibrium to be attained?

a. surplus; price will rise.

b. surplus; price will fall.
c. shortage; price will rise.
d. shortage; price will fall.

14. An increase in the price of electricity will,

a. increase the demand for kerosene heaters.

b. increase the demand for light bulbs.
c. increase the demand for stereos.
d. increase the demand for TVs.

15. Which of the following causes change in demand for a product or service?
a. preferences
b. the price of the good
c. income
d. all of the above

Additional Activities

Congratulations!
Finally! You've hit the end of this module! It's awesome that you've come this
far! Now, let's do one more activity to improve your ability to apply what you've
learned in this module in real-world situations.
Activity 6: Script Writing on Market Equilibrium
Instructions: Write a thirty (30) second TV advertisement script that display
customer’s loyalty in terms of quality and price of a certain commodity. Relate this
to our lesson on market equilibrium.

My Script

20
 Answer Key

Assessment What's More What I Know

1. c 1. a
1. Law of demand. As
2. b 2. c
the price of a good
3. b 3. c
rises, all other
4. a 4. b
things being equal,
5. c 5. c
the quantity
6. a 6. c
demanded of that
7. c 7. c
good falls.
8. c 8. c
Law of supply. As
9. d 9. d
the price rises, so
10.d 10.d
does the quantity
11.d 11.b
supplied; and as the
12.c 12.d
price falls, so does
13.b 13.a
the quantity
14.a 14.a
Supplied.
15.d 15.b
2. No, this fact does not
refute the Law of
Demand. The Law of
Demand tells us what
will happen to quantity
demanded if price is the
only factor that
changes. In the
example provided,
many things have
probably changed over
twenty years, average
family income and the
reputation of the school
being just two of them.
As a result, the demand
for the services
provided by that school
has shifted.

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References
Leaño,Roman Jr. D. (2016). Applied Economics For Senior High School, Mindshapers
Co.,Inc.

Retrieved from https://academic.udayton.edu/PMIC/MC%20Questions

Retrieved from https://app.creately.com/diagram/Z648hqu1wm3/edit
Retrieved from https://inflateyourmind.com/macroeconomics/unit-2/ section-9-
the-effect-of-a-change-in-supply-on-equilibrium-price-and-quantity/
Retrieved from https://open.oregonstate.education/intermediatemicroeconomics/
chapter/module-10/

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 DISCLAIMER
This Self-learning Module (SLM) was developed by DepEd – Division of
General Santos City with the primary objective of preparing for and
addressing the new normal. Contents of this module were based on DepEd’s
Most Essential Learning Competencies (MELC). This is a supplementary
material to be used by all learners in General Santos City in all public
schools beginning SY 2020-2021. The process of LR development was
observed in the production of this module. This is version 1.0. We highly
encourage feedback, comments, and recommendations.

For inquiries or feedback, please write or call:

Department of Education – Division of General Santos City

Learning Resource Management System (LRMS)

Tiongson Street, Brgy. Lagao, General Santos City

Telefax No.: (083) 552-8909

Email Address: [email protected]

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