Economics – 3/25/13

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.
• Create and identify circumstances which lead to a change in quantity supply and a change in supply.
• Integrate and evaluate multiple sources of information presented in diverse formats and media in order to determine how supply and quantity supply are influenced.

III. Discussion:   

A.  Supply Video

IV.  Classwork

A.  Video – Economics USA Supply Q&A

1. List some reasons why there was a lack of U.S. oil producers.
2. What incentive caused U.S. oil producers to begin seeking new oil reserves?
3. What did President Ford do to curtail U.S oil production?
4. Why were U.S. oil controls phased out?
5. What happened by 1985?

B. Page 125 Questions & Answers  2-8

V. Notebook Check tomorrow

VI. Online Quiz-iLearn Section 5-1- closes Wednesday at 11:00 pm

Economics W2013