Economics – 4/17/13

I.  Bellwork Q&A

From a starting point of D & S

1. What is the current equilibrium price?
2. What is the new price if demand remains constant and supply increases to S²?
3. What would be the new price if demand decreases to D1 and Supply increases to S²?
4. What would be the price if demand remains constant D and Supply increases to S¹?
5. What could cause an increase in the supply of gold?

 

II. Objective

• Produce a clear and coherent writing appropriate to task, purpose, and audience.
• Analyze the impact of a change in public policy (price ceilings and price floors) on consumers, producers, workers, savers, and investors.

III. Clip on Price Ceilings/Price Floors

• Price Ceilings and Price Floors

IV.  Discussion – Pgs. 156-161 Social Goals & Market Efficiency

V.  Notebook work-Mapping

• Price Controls-  Bridge Map
• Agricultural Price Supports-  Circle Map

VI.   Classwork

• Page 156 Vocabulary (8)

• Page 161 #2-7 Q&A

VII.  Chapter 6 Test Friday

• Chapter 6 Review Sheet

Economics W2013