Economics – 10/16/12
I. Bellwork
- Economic Analysis Page 118, 119 & 120 Q&A
II. Objective
- Utilize supply schedules to express supply graphically and analyze how the Law of Supply is represented.
III. Notebook Work
A. Determinants which change Supply- (Bubble Map)
B. Supply Elasticity and Inelasticity
- Double Bubble Graph-Demand and Supply Comparison
IV. Classwork
A. Video – Economics USA Supply Q&A
- List some reasons why there was a lack of U.S. oil producers.
- What incentive caused U.S. oil producers to begin seeking new oil reserves?
- What did President Ford do to curtail U.S oil production?
- Why were U.S. oil controls phased out?
- What happened by 1985?
B. Plotting Supply Curves & Changes in Supply
V. Online Quiz-iLearn Section 5-1- closes Wednesday at 11:00 pm
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