Market Equilibrium Quiz

Why does the Philippines experience rice shortage? How can the country solve its rice shortage issues?

In which conditions did the buyer save money?

In which conditions did the seller save money?

Do you see any trend in the prices of rice in round one? After round two? What do you think will happen if we continue the activity over and over again?

What happened to the price of rice in round three? Why do you think the price of rice changed that way?

What happened to the price of rice in round four? Why do you think the price of rice changed that way?

Under what conditions will there be changes in the price of goods and services? How do demand and supply affect the price and quantity of goods and services?

What happens to the market when the supply or demand changes?

Identify the price and quantity where market equilibrium is reached.

Identify the market equilibrium price, the quantity demanded, and quantity supplied where market equilibrium is reached.