This document serves as a warm-up exercise for students exploring foundational concepts in economics, specifically focusing on market fundamentals such as market equilibrium, scarcity, and consumer choice. Part 1 engages students in defining market equilibrium and creating a supply and demand graph. Part 2 challenges them to apply their understanding to real-world scenarios, analyzing how supply shifts, especially in critical components like semiconductors, impact equilibrium price and quantity in the automotive market. The document also delves into the concept of opportunity cost, requiring students to consider the trade-offs involved when making purchasing decisions in the face of scarcity.