Title: Explain supply and demand as related to the global marketplace.
Course: Opportunities in Global Trade (12056-I) > Section: Exploring the Realities and Fluctuations of the Global Economy

Explanation should include a definition of

- supply—the products/services a business is willing and able to produce
- demand—the amount of products/services a consumer is willing and able to purchase

and how these affect global trade (e.g., their relation to pricing decisions, strong and weak currencies, varying exchange rates, and the stability of various countries' overall economic systems).

Process/Skill Questions:

- How are supply and demand related?
- How does competition affect supply and demand?
- How does the cost of production affect supply and demand?
- How does the availability of resources affect supply and demand?
- How does technology affect supply and demand?
- How do geographical, political, legal, social, cultural, and economic factors affect supply and demand?
- How do you determine market price equilibrium?
- How does price affect supply and demand?
- How do changes in the value of currency affect international trade?
- How can a country’s economic system affect supply and demand?
- What are some of the effects of supply and demand on consumers? On businesses?
- What are some of the effects of supply and demand on businesses?