Economics – 3/29/11

I.  Bellwork  – Q&A

A.  Page 147 Analyze the Impact 1-2 Q&A

What is a benefit of selling merchandise on-line?

What is a disadvantage of buying merchandise on-line?

II. Objective

  • Analyze how prices change through the interaction of buyers and sellers in a market including the role of supply, demand, equilibrium, price ceiling, and price floors.

III.  Classwork

  • Page 148 Vocabulary (6)
  • Page 154 #2-7 Q&A

IV.  Surplus and Shortage in Motion

V.  Notebook Work:

Graphing Supply and Demand Curves – Identify Surplus & Shortage areas

Supply and Demand of Chocolate Chip Cookies

VI.  Quiz Tomorrow – Understand Figures 6.1, 6.2, and 6.3


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